The SBI Funds Management IPO received an overwhelming response from investors. The issue attracted strong demand during its subscription period. The company launched its IPO on July 14 to raise ₹9,812 crore from the market. The issue closed on July 16. SBI Funds Management plans to offer 12.45 crore shares, but bids were received for a massive 518 crore shares. By the close of the issue on Thursday evening, the IPO had been oversubscribed 41.66 times. The IPO received 6.5 million applications, making it the first IPO this year to attract such a huge number of applications. SBI Funds Management fixed the price band at ₹545–₹574 per share.
The entire issue is being offered through the Offer for Sale (OFS) route. The retail investor portion was subscribed 3.60 times, while the Qualified Institutional Buyers (QIB) category witnessed the highest demand, with subscriptions reaching 140.11 times. The share allotment is expected to be finalized on July 17. Market estimates suggest that the shares could list at a 15–20% premium over the issue price. The shares of SBI Funds Management are scheduled to be listed on both the NSE and the BSE on July 21.