State Bank of India announces updates on the IPO of its subsidiary, SBI Funds Management Limited (SBIFM). The offer price has been set at Rs. 574.00 per Equity Share, with an employee discount of Rs. 54.00 per Equity Share. This disclosure is made in accordance with SEBI regulations, detailing the sale of equity shares and related financial information. Allotment is expected around July 20, 2026.
SBI Funds Management Limited IPO Update
State Bank of India (SBI) has provided a significant update regarding the initial public offering (IPO) of its subsidiary, SBI Funds Management Limited (SBIFM). This disclosure, made in accordance with SEBI (LODR) Regulations, 2015, follows previous communications detailing the red herring prospectus (RHP) and addendums.
Offer Price and Employee Discount
The Offer Price for the IPO has been finalized at Rs. 574.00 per Equity Share. Additionally, eligible employees are being offered a discount of Rs. 54.00 per Equity Share, as stipulated in the RHP and its addendum. These details are crucial for investors and stakeholders participating in the offering.
Key Financial Information of SBIFM
For the fiscal year 2026, SBIFM reported total income of Rs. 4,969.09 crores, which represents 0.70% of SBI Group’s total income. The company’s reserves and surplus stood at Rs. 3,533.09 crores, accounting for 0.59% of the SBI Group’s reserves and surplus. These figures highlight SBIFM’s financial standing within the larger SBI Group.
Sale Details and Allotment
The IPO involves an offer for sale of 99,501,649 Equity Shares by SBI, constituting 4.8851% of SBIFM’s paid-up equity share capital. Another 71,454,982 Equity Shares, representing 3.5082% of the paid-up equity share capital, are being offered by Amundi India Holding. The book-building process, in accordance with SEBI ICDR Regulations, is being followed. Allotment of shares is anticipated to take place on or about July 20, 2026.
The announcement clarifies that this does not constitute an offer for sale of securities in the United States, nor are the securities registered under the US Securities Act of 1933. The information is for informational purposes and appropriate dissemination.
Source: BSE
