SBI Funds Management share price extends gains after decent listing. Should you buy, sell or hold the stock?

SBI Funds Management, India's largest AMC by quarterly average AUM with a 15.3% market share, made a decent stock market debut at ₹610 on BSE and ₹613.30 on NSE, premiums of 6.21% and 6.85% respectively over the ₹574 issue price. The stock extended gains to around ₹625, up nearly 9% from issue price, though listing was below the indicated grey market premium of about 16%. The ₹9,812.91 crore IPO, subscribed 41.66 times, was entirely an offer for sale by promoters SBI and Amundi India Holding, with Equirus Securities initiating coverage at ₹675 target.