SBI Funds Management IPO to list today; GMP signals 17% premium debut

SBI Funds Management is set to list today with Grey Market Premium of around Rs 97, pointing to an estimated listing price of about Rs 671 and a potential 17 percent premium over the upper price band of Rs 574. The IPO, a complete Offer for Sale of 17.10 crore shares by State Bank of India and Amundi, was subscribed 41.66 times overall with the QIB portion booked 140.11 times. As India's largest asset management company, it managed mutual fund QAAUM of Rs 12.5 lakh crore (15.3 percent market share) and reported FY26 revenue of Rs 4,389 crore and profit after tax of Rs 3,067 crore, with EBITDA margin of 79.1 percent.