SBI Funds Management IPO: SBI shareholders can apply in two categories and improve their allotment chances. Here’s how

SBI Funds Management Ltd's IPO opened for public subscription on Tuesday, aiming to raise nearly Rs 10,000 crore through an Offer for Sale of over 20.37 crore equity shares by promoters State Bank of India and Amundi India Holding. The price band is set at Rs 545-574 per share with the issue closing on July 16, and the company had already raised Rs 2,663 crore from 129 anchor funds at the upper price band. The shares are commanding a grey market premium of Rs 93 (around 16.20%) over the issue price, and brokerage Anand Rathi has recommended a 'Subscribe' rating, valuing the company at 38.1x P/E and 33.6x EV/EBITDA on FY26 earnings.