SBI Funds Management IPO Price Band Fixed; QIB Offer Period Clarified
SBI Funds Management Limited (SBIFM), a subsidiary of State Bank of India, has finalized key details regarding its Initial Public Offering (IPO). The company announced the price band for the offering and clarified aspects of the bid period following an update to previous intimation.The price band for the equity shares of SBIFM was set at Rs. 545 to Rs. 574 per share, which has a face value of Rs. 1 each. A special employee discount of Rs. 54 per Equity Share will be provided to Eligible Employees as stipulated in the Red Herring Prospectus (RHP).
The IPO will be conducted through the book-building process. The minimum bid lot size for the offering has been fixed at 26 Equity Shares, with subsequent purchases required in multiples of 26 shares.
The offer includes up to 128,334,397 Equity Shares offered by SBI, which represents 6.3007% of SBIFM's paid-up equity share capital. Additionally, Amundi India Holding is offering up to 75,374,842 Equity Shares, accounting for 3.7006% of the total paid-up equity share capital. The allotment process is expected to take place on or around July 18, 2026.
In a clarification regarding the bidding timeline, the company confirmed that the Bid/Offer Period for Qualified Institutional Buyers (QIBs) will close concurrently with the Bid/Offer Closing Date, which is Thursday, July 16, 2026, correcting a previous indication.
Financial Snapshot of SBIFM (Fiscal 2026)
The financial details for SBIFM during Fiscal 2026 show the company's contribution to its parent group:| Metric | Value | Contribution Percentage |
|---|---|---|
| Total Income | Rs. 4,969.09 crores | 0.70% of SBI Group's Total Income |
| Reserves and Surplus | Rs. 3,533.09 crores | 0.59% of SBI Group's reserves and surplus |
SBIN Stock Price Movement
Shares of State Bank of India slipped by 1.76% on Wednesday, settling at ₹1016.90 after the equity shed ₹18.30 from its previous close. The stock closed amidst trading a volume of 14.14 million shares, having momentarily dipped to a day low of ₹1011.70.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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