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SBI Funds Management IPO Opens Today: 3 Brokerages Recommend 'Subscribe'; Check Latest GMP

Posted on 14th Jul 2026 02:03 pm by rohit kumar

The ₹9,813 crore SBI Funds Management IPO, one of the biggest public issues in India's asset management sector, opened for subscription on Tuesday, July 14, and will remain open until Thursday, July 16. Ahead of the issue, the company raised around ₹1,655 crore from anchor investors, reducing the IPO size from ₹11,693 crore.

 

With three leading brokerage firms recommending the issue and the Grey Market Premium (GMP) hovering around ₹100, investor interest remains strong.

 

SBI Funds IPO Is Entirely an Offer for Sale (OFS)

 

The IPO is a 100% Offer for Sale (OFS) by State Bank of India (SBI) and Amundi India Holding.

 

Since no fresh shares are being issued, SBI Funds Management will not receive any proceeds from the public offering. The funds raised will go to the selling shareholders.

 

Three Brokerage Firms Recommend 'Subscribe'

 

Several brokerage houses have given positive recommendations for the IPO, citing the company's strong market position, profitability and attractive valuation.

 

Anand Rathi

 

Anand Rathi has assigned a 'Subscribe' rating, highlighting:

 

15.3% share of the mutual fund industry's Quarterly Average Assets Under Management (QAAUM) as of March 2026.

Asset-light and fee-based business model.

Diversified offerings across Mutual Funds, PMS, AIFs, SIFs and advisory services.

Swastika Investmart

 

Swastika Investmart also recommends 'Subscribe', pointing to:

 

Strong market leadership.

Healthy operating margins.

Attractive valuation compared to peers.

Return on Net Worth (RoNW) of 43.02%.

EBITDA margin of 81.56%.

Arihant Capital

 

Arihant Capital has assigned a 'Subscribe for the Long Term' rating, citing:

 

Reasonable valuation.

Strong brand and franchise.

Consistent profitability.

Superior return ratios.

SBI Funds IPO: Price Band and Lot Size

 

Key issue details:

 

IPO Size: ₹9,813 crore

Price Band: ₹545–₹574 per share

IPO Opens: July 14

IPO Closes: July 16

Lot Size: 26 shares

Minimum Investment: ₹14,924 (at the upper price band)

SBI Funds IPO GMP Today

 

According to the latest grey market trends, the GMP is around ₹100 per share.

 

Based on the current GMP, the shares are expected to list at a premium over the issue price. However, investors should note that Grey Market Premium is unofficial and can change significantly before listing.

 

Why Analysts Are Bullish

 

Brokerages believe SBI Funds Management stands out because of:

 

India's largest asset management franchise.

Asset-light business model.

Strong profitability and cash generation.

High operating margins.

Diversified investment products.

Established brand backed by SBI.

 

These strengths position the company well to benefit from the continued growth of India's mutual fund industry.

 

Should You Apply?

 

According to the recommendations from Anand Rathi, Swastika Investmart, and Arihant Capital, the IPO appears attractive for investors seeking exposure to India's rapidly expanding asset management industry.

 

However, investors should evaluate the company's fundamentals, valuation, financial goals and risk appetite before making any investment decision.

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