Newsletter
India's primary market is expected to raise $20 billion through Initial Public Offerings in 2026 and now we have got this year’s biggest IPO.
What’s going on: SBI Mutual Fund IPO is worth ₹11,693 crore. The company has fixed the price band at ₹545–574 per share. The issue will open for subscription from July 14 to July 16, while anchor investors can bid on July 13.
SBI Mutual Fund is India's largest mutual fund house, managing lakhs of crores of investor money and generated ₹4,969 crore in income during FY26.
This is a 100% Offer for Sale (OFS), meaning SBI Mutual Fund won't receive any fresh money. Instead, existing shareholders are selling part of their stake.
State Bank of India will sell a 6.3% stake, while its joint venture partner Amundi will offload another 3.7% stake.
Quick insight: Amundi, French asset management giant is set to unlock nearly ₹4,400 crore from a stake it acquired for just ₹173.9 crore around 15 years ago.
Note: at the upper end of the price band, the company will command a market valuation of nearly ₹1.17 lakh crore, putting it in the league of several Nifty 50 companies.
What investors should know: one lot consists of 26 shares, requiring a minimum investment of ₹14,924.
The IPO reserves 35% for retail investors, while existing SBI shareholders have a dedicated quota of 1.3 crore shares. Eligible employees will also receive a ₹54 per share discount.
