India's Largest AMC Fixes IPO Price Band at Rs 545–574 Per Share; Check Details
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SBI Funds Management has fixed the IPO price band at Rs 545–574 per share, with the issue opening on July 14 and closing on July 16, while eligible employees will receive a Rs 54 per share discount
✨ Key Takeaways
On Thursday, Indian equity benchmarks traded higher, with the benchmark Nifty 50 index rising 0.58 per cent to 24,020.45. The Bank Nifty also gained 0.70 per cent to 57,142.05. Amid the broader market strength, State Bank of India (SBI) share price traded at Rs 1,021.20, up 0.42 per cent from the previous close after its subsidiary SBI Funds Management Ltd (SBIFM) announced the price band for its upcoming initial public offering (IPO).
SBI Funds Management Fixes IPO Price Band
SBI informed the exchanges that SBI Funds Management Limited (SBIFM) has fixed the IPO price band at Rs 545 to Rs 574 per equity share of face value Rs 1 each. Eligible employees will receive a discount of Rs 54 per equity share, while the minimum bid lot has been fixed at 26 equity shares and in multiples thereof.
SBI Funds Management IPO Schedule
The IPO will open on July 14, 2026, and close on July 16, 2026, including for Qualified Institutional Buyers (QIBs), after the company corrected an earlier communication that had incorrectly mentioned a different closing date for QIBs. The company expects the allotment to be completed on or around July 18, 2026, subject to regulatory approvals and market conditions.
SBI Funds Management Offer Details
The IPO comprises an Offer for Sale (OFS) of up to 128.33 million equity shares by State Bank of India, representing 6.3007 per cent of SBIFM's paid-up equity share capital, and up to 75.37 million equity shares by Amundi India Holding, representing 3.7006 per cent of the paid-up equity share capital. The issue will be conducted through the book-building process in accordance with SEBI regulations.
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About SBI Funds Management
SBI Funds Management Limited (SBIFM) is the asset management company of State Bank of India (SBI) and Amundi India Holding. The company offers a diversified range of Mutual Fund products across equity, debt, hybrid, liquid and passive investment categories.
SBIFM is one of India's leading asset management companies, serving retail, institutional and corporate investors through an extensive distribution network across the country.
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Disclaimer: The article is for informational purposes only and not investment advice.