Shares of SBI Funds Management are commanding a strong grey market premium of nearly 18 percent ahead of their stock market debut tomorrow, on July 21.
As per market tracking platforms Investorgain and IPO Watch, the grey market premium (GMP) for the issue stands at Rs 103 per share. This indicates a potential listing price of Rs 677, against the upper end of the IPO price band of Rs 574.
The Rs 9,813-crore initial public offering (IPO) saw a tremendous response during its subscription period from July 14 to July 16, with the issue being booked 41.66 times overall. The total demand, amounting to nearly Rs 2.98 lakh crore, makes it India's fifth-largest IPO by total bid value. The massive subscription was led by Qualified Institutional Buyers (QIBs), whose portion was subscribed 140.11 times.
The allotment status for the IPO was finalised on July 17. For successful applicants, shares are scheduled to be credited to demat accounts by July 20.
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Applicants who are yet to check their allotment status can do so on the official website of the registrar (KFin Technologies), as well as on the BSE and NSE websites.
The public issue, with a price band of Rs 545–Rs 574 per share, is entirely an Offer for Sale (OFS) of 20.37 crore equity shares by State Bank of India (SBI) and Amundi India Holding. Consequently, the company will not receive any proceeds from the offering.
Established in 1992, SBI Funds Management serves as the investment manager for SBI Mutual Fund, a joint venture between SBI and Amundi. As of 2025, the company managed approximately Rs 16.32 lakh crore in assets under management (AUM), commanding a 15.5 percent market share of India's mutual fund industry.