State Bank of India's Subsidiary IPO Sees Offer Revision and Pre-IPO Sale Update
The Initial Public Offering (IPO) of SBI Funds Management Limited (SBIFM), a subsidiary of State Bank of India, is undergoing updates regarding its offering structure and reflecting details from a pre-IPO transaction. The listing involves the equity shares of SBIFM, with both the bank and Amundi India Holding participating in the Offer for Sale.The IPO constitutes an offer for sale of up to 170,956,631 equity shares of face value Rs. 1 (one) each, representing up to 8.3933% of the paid-up equity share capital of SBIFM. State Bank of India and Amundi India Holding are offering specific portions of these shares.
The Offer for Sale includes a portion offered by SBI and another segment from Amundi India Holding:
| Investor | Shares Offered (Up to) | Percentage of Paid Up Equity Capital |
|---|---|---|
| State Bank of India | 99,501,649 | 4.8851% |
| Amundi India Holding | 71,454,982 | 3.5082% |
The IPO is being conducted through the book building process, with a price band fixed on July 8, 2026, ranging from Rs. 545 to Rs. 574 per Equity Share. An employee discount of Rs. 54 per Equity Share will be offered to Eligible Employees as stipulated in the offering documents.
SBI's Offer Size Revised
The IPO details reveal a revision in the size of the offer for sale by State Bank of India. The number of shares offered by the bank has been updated from a maximum of up to 128,334,397 Equity Shares (amounting to 6.3007% of the paid-up equity share capital of SBIFM) down to 99,501,649 Equity Shares (representing 4.8851%).Pre-IPO Transaction Details
Prior to the public offering, a pre-IPO transaction took place involving State Bank of India. The bank conducted a secondary sale of 28,832,748 Equity Shares of SBIFM, equivalent to 1.4156% of the pre-Offer share capital of SBIFM. This transaction was executed with 30 investors at Rs. 574.00 per Equity Share, generating an aggregate consideration of Rs. 1,655.00 crores.Financial Snapshot of SBIFM
In relation to the company's financial performance for Fiscal 2026, the key metrics are as follows:| Metric | Value | Contextual Percentage |
|---|---|---|
| Total Income | Rs. 4,969.09 crores | 0.70% of Total Income of SBIGroup |
| Reserves and Surplus | Rs.3,533.09 crores | 0.59% of reserves and surplus of SBI Group |
Allotment for the IPO is expected to take place on or about July 18, 2026.
SBIN Stock Price Movement
On Friday, State Bank of India shares rallied, finishing the day up 1.40% and settling at ₹1036. The stock saw brisk activity during the session, with trading volume amounting to 8.79 million shares.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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