SBI’s 15-paise bet: How India's largest bank is turning a tiny cost into mindboggling 382,567% profit

SBI Funds Management, India's largest AMC with 15.3% market share and mutual fund QAAUM of Rs 12,509.98 billion as of March 2026, has set an IPO price band of Rs 545 to Rs 574 per share for a Rs 11,693 crore offer for sale. The IPO opens on July 14 and closes on July 16, valuing the company at about Rs 1.17 lakh crore at the upper band. Promoter SBI, holding a stake acquired at an average cost of just 15 paise per share, will fetch around Rs 7,366 crore, while co-promoter Amundi will net about Rs 4,326 crore.