SBI Funds Management IPO to open today. Check brokerages review, GMP, subscription staus and other details

SBI Funds Management IPO opened for subscription with a Rs 9,813 crore offer for sale of 17.10 crore shares by State Bank of India and Amundi, at no fresh issue component. Grey market premium is around 18 percent, while brokerages Nirmal Bang and Anand Rathi recommended Subscribe, citing leadership, asset-light model and parentage support. FY26 revenue stood at Rs 4,389 crore with PAT of Rs 3,067 crore and EBITDA margin of 79.1 percent, and the upper band values the company at 38.1 times FY26 earnings, at a discount to listed peers.