State Bank of India Completes Pre-IPO Transaction: Sells Over 28 Million SBIFM Shares for Rs 1,655 Crores
State Bank of India (SBI) has completed a significant pre-Initial Public Offering (pre-IPO) transaction involving its subsidiary, SBI Funds Management Limited (SBIFM). The bank sold equity shares of the funds management entity to a panel of investors.The Pre-IPO Transaction was finalized on July 10, 2026. State Bank of India executed share purchase agreements dated July 9, 2026, to sell a total of 28,832,748 equity shares of SBIFM. These shares represented 1.4156% of the pre-Offer share capital of SBIFM.
The sale was conducted to thirty investors at a fixed price of Rs 574.00 per Equity Share, generating an aggregate consideration amounting to Rs 1,655.00 crores.
Transaction Details and Investors
The successful transfer saw the equity shares move into the hands of various investment groups across different sectors. None of the transferees were identified as belonging to the promoter or promoter group of State Bank of India.
The sale involved a diverse range of institutional and private investors, each acquiring specific allotments. Key details of the transaction are summarized below:
| Metric | Details |
|---|---|
| Subsidiary Entity | SBI Funds Management Limited (SBIFM) |
| Seller | State Bank of India (SBI) |
| Total Shares Sold | 28,832,748 |
| Price per Share | Rs 574.00 |
| Aggregate Consideration | Rs 1,655.00 crores |
| Stake Sold | 1.4156% of pre-Offer share capital |
The transaction concluded the earlier agreements signed on July 9, 2026, finalizing the transfer of equity shares as planned.
SBIN Stock Price Movement
On Friday, shares of State Bank of India edged higher to close at ₹1036, rising by ₹14.30 as traders navigated a positive session. The stock traded within an intraday range between ₹1023.5 and ₹1047.8, with 8.79 million shares recorded in the exchange volume.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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