Mumbai: SBI Funds Management, India's largest asset manager, has set the price band for its ₹11,693 crore initial public offering (IPO) at ₹545-574 per share.
The issue pricing represents a discount of about 30% to the unlisted price of around ₹820 earlier this week, dealing a blow to the scores of investors who have bought these shares ahead of the IPO on expectations of strong listing gains.At the IPO price of ₹574, the market capitalisation of SBI Funds Management is at ₹1.16 lakh crore.
On July 3, the value in the unlisted market was ₹1.68 lakh crore.
The issue will be open from July 14 to 16.
SBI Funds Management had touched a high of ₹850-860 just weeks before the announcement of its price band, reflecting the frenzy or FOMO buying in the stock, said Sandip Ginodia, director at Altius Investech, a firm that deals in unlisted shares.The public issue - the largest so far in 2026 - is entirely an offer for sale (OFS) of 20.37 crore shares, with no fresh capital being raised by the company.
