SBI Funds Management IPO Allotment LIVE today: What’s your application status? Check online on BSE, NSE, KFin Tech

The company's operations are primarily focused on asset management. According to its filings, it does not have separate reportable business segments, with most of its revenue coming from investment management activities.

SBI Funds Management’s financials have shown steady growth in recent years. Total income increased from Rs 3,426 crore in FY24 to Rs 4,976 crore in FY26, while profit after tax rose from Rs 2,073 crore to Rs 3,067 crore during the same period.

The company’s FY26 net profit was around 21% higher than the previous year, reflecting growth in both assets under management and fee income.

Besides managing investments, SBI Funds Management has built digital platforms for investors, distributors and sales teams to make transactions and customer services easier. It also has an international presence through subsidiaries that offer offshore investment products.

The SBI Funds Management IPO is entirely an Offer for Sale (OFS) of up to 20.37 crore equity shares. Of these, State Bank of India (SBI) is selling up to 12.83 crore shares, while Amundi India Holding is offloading up to 7.54 crore shares. As the issue does not include a fresh issue of shares, SBI Funds Management will not receive any funds from the IPO.

SBI Funds Management is India's largest asset management company by quarterly average assets under management (QAAUM), managing Rs 12.51 lakh crore as of March 31, 2026. The company has a diversified range of mutual fund and investment products, a large investor base, and an extensive distribution network supported by SBI's branch network. It also benefits from Amundi's global investment expertise and technology capabilities.

The company mainly earns management fees for managing investors' money across its mutual fund schemes and other investment products. The mutual fund business contributes the largest share of its revenue.

The SBI Funds Management IPO ended the three-day bidding process with an overall subscription of 41.73 times. The QIB portion led the demand with a subscription of 140.11 times, while the NII category was booked 22.51 times. The retail investor segment received bids for 3.76 times the shares reserved for the category.

The company's earnings are largely driven by the size of assets it manages. Growth in systematic investment plans (SIPs), increasing participation in equity mutual funds and rising financial savings can support higher assets under management over time. Since revenue is largely earned as a percentage of assets managed, any increase or decline in AUM has a direct impact on the company's income.

As of March 31, 2026, SBI Funds Management managed Rs 12.51 lakh crore in quarterly average assets under management (QAAUM), giving it a 15.3% share of the mutual fund industry. Apart from mutual funds, the company also manages portfolio management services (PMS), passive investment products and specialised investment funds, adding multiple revenue streams to its business.

The company reported an EBITDA of Rs 4,058 crore in FY26, translating into an EBITDA margin of around 82%. Since asset management is a fee-based business, operating costs are relatively lower compared to many other industries.

This has enabled the company to maintain high operating margins while continuing to grow its business.

SBI Funds Management's financials have shown steady growth in recent years. Total income increased from Rs 3,426 crore in FY24 to Rs 4,976 crore in FY26, while profit after tax rose from Rs 2,073 crore to Rs 3,067 crore during the same period.

The company's FY26 net profit was around 21% higher than the previous year, reflecting growth in both assets under management and fee income.

"At the upper price band of INR 574, SBIFML is valued at approximately 38x FY26 earnings, implying a discount to HDFC AMC, ICICI Prudential AMC, and Nippon India AMC, while trading at a premium to UTI AMC and Aditya Birla Sun Life AMC. The discount reflects its lower revenue yield of approximately 35 bps of AUM versus approximately 44 bps to 52 bps for HDFC AMC and ICICI Prudential AMC, driven by a higher mix of passive products and institutional PMS mandates. We believe the valuation appropriately captures the current business mix while offering meaningful upside as the equity mix improves," said Deven Choksey Research in its IPO note.

"At the upper band of INR 574, the issue is valued at a P/E of 38.1x on FY26 EPS of INR 15.06 (P/B of 19.6x), broadly in line with or at a discount to larger listed peers, supported by its dominant franchise and superior return ratios." said Arihant Capital in its IPO note.

The company's promoters are State Bank of India (SBI), Amundi India Holding, and Amundi Asset Management. State Bank of India, incorporated under the State Bank of India Act, 1955, is India's largest public sector bank and a leading banking and financial services institution. Amundi India Holding is a France-based investment holding company engaged in investment, research, and securities management activities. Amundi Asset Management, also headquartered in France, is one of Europe's leading asset managers and provides global investment management services. Together, SBI and Amundi jointly promote SBI Funds Management through their long-standing partnership.

India's mutual fund industry has grown rapidly, driven by the financialization of household savings, rising retail participation, increasing SIP adoption, and a growing preference for professionally managed investment products. Industry QAAUM expanded at a CAGR of around 20.5% between March 2021 and March 2026, reaching ₹81.5 trillion. Retail and HNI investors accounted for 60.1% of industry AUM in March 2026, up from 53.9% in March 2021, highlighting a structural shift in savings behaviour. Monthly SIP inflows remained strong at ₹3.5 trillion in FY26, reflecting growing investor confidence in mutual funds as a long-term wealth creation tool. Looking ahead, industry QAAUM is projected to reach ₹147–155 trillion by FY30, growing at a CAGR of 16–18%, supported by sustained investor participation and favourable market conditions.

SBI Funds Management is the biggest asset management company (AMC) in India based on quarterly average assets under management (QAAUM). As of March 31, 2026, it managed mutual fund assets worth Rs 12.51 lakh crore, giving it a 15.3% market share. The company has also maintained its position as the country's largest AMC for several years.

Apart from mutual funds, SBI Funds Management has a strong presence in portfolio management services, specialised investment funds, and passive investment products. Its wide distribution network comes from State Bank of India (SBI), while Amundi brings global investment experience. This combination has helped the company expand its reach and operate efficiently across different investment segments.

As India's largest asset management company by mutual fund assets under management, SBI Funds Management benefits from strong operating leverage, a 15.3% market share by QAAUM, industry-leading cost efficiency, extensive research capabilities, and a predominantly active asset mix. Backed by favourable industry trends, diversified revenue streams, and a long operating track record, the company is well positioned for sustained growth.

It is also India's largest portfolio management services (PMS) provider by PMS and advisory assets under management and one of the country's leading Specialized Investment Fund (SIF) platforms. With a 39.7% market share in the PMS segment, a strong institutional client base, and expanding Alternative Investment Fund (AIF) and SIF businesses, the company generates stable, recurring income while strengthening its presence beyond traditional mutual funds.

The IPO is entirely an Offer for Sale (OFS) of up to 170.96 million equity shares, aggregating to Rs 9,795.4 crore. Since the issue comprises only an OFS, the company will not receive any proceeds from the offering. The primary objective is to list its equity shares on the stock exchanges and gain the benefits of a public listing.

SBI Funds Management Ltd (SBIFML), established in 1992, is India's largest asset management company by mutual fund assets under management. A joint venture between State Bank of India and Amundi Asset Management, it manages SBI Mutual Fund and offers a wide range of investment products, including equity, debt, hybrid, ETF and portfolio management services (PMS). As of FY26, the company oversees around Rs 12.5 lakh crore in assets, representing nearly 15% of India's mutual fund industry. It serves more than 18 million investors through 128 mutual fund schemes spanning equity, debt, arbitrage, index, ETF, overseas, liquid and overnight fund categories.

In the unlisted markets, the shares of SBI Funds Management were trading at a premium of RS 97, translating into an estimated listing price of Rs 671. This marks potential gains of 16.9% per share.

However, it is important to note that GMP is an unofficial indicator of the listing price and may fluctuate based on market mood and sentiment.

After the allotment process is completed, successful applicants will receive the shares in their demat accounts ahead of listing.

SBI Funds Management is tentatively scheduled to make its stock market debut on the National Stock Exchange (NSE) and the BSE on Tuesday, July 21, 2026.

The listing price will depend on market conditions and investor demand on the day of debut.

Also read: SBI Funds Management IPO Vs ICICI Prudential AMC: 5 factors to watch as India’s largest asset manager heads to the stock market

Retail investors could apply for the IPO by bidding for a minimum of 26 shares, requiring an investment of Rs 14,924. The company fixed the final issue price at Rs 574 per share.

For non-institutional investors, the minimum investment was significantly higher. Small NIIs (sNIIs) had to apply for at least 364 shares, translating to an investment of Rs 2,08,936, while Big NIIs (bNIIs) were required to bid for a minimum of 1,768 shares, amounting to Rs 10,14,832.

The IPO also included a separate reservation for employees. A total of 32.57 lakh shares were earmarked for eligible employees, who were offered the shares at a Rs 54 discount to the final issue price.

Also read: Why SBI’s 23,000 branches are the real growth engine for SBI Funds Management

Once the allotment process is completed, successful applicants will have the shares credited to their Demat accounts before the listing date.

Investors who do not receive an allotment will have the blocked amount in their bank account released through the Application Supported by Blocked Amount (ASBA) process.

After the shares are credited, investors can hold them as an investment or choose to sell them when the stock lists on the NSE and BSE on the scheduled listing date.

Also read: SBI Fund’s Rs 11,693-crore IPO: How much will SBI, Amundi earn? Here’s who gets the biggest cheque

If you have been allotted shares but they are not yet visible in your Demat account, don't panic.

First, check whether the allotment has been finalised and verify your allotment status on the websites of BSE, NSE, or KFin Technologies.

If the shares still do not appear even after the scheduled credit date, contact KFin Technologies, the registrar to the issue, or get in touch with your Depository Participant (DP) or broker.

Keep your application number, PAN, and Demat account details handy, as these will be required to help resolve the issue.

Also read: Why big money just snapped up Rs 1,880 cr of SBI Funds IPO? Premji Fund, Prashant Jain pick pre-IPO stakes

The bidding for the SBI Funds Management IPO has now closed, with the issue attracting strong demand across investor categories. By the end of Day 3, the public issue was subscribed 41.73 times overall.

Here's how each segment participated -

- Overall subscription: 41.73 times

- Qualified Institutional Buyers (QIBs): 140.11 times

- Non-Institutional Investors (NIIs): 22.51 times

- Retail Investors: 3.76 times

Also read: SBI Funds Management IPO: Can SBI shareholders double their allotment chances? Here’s the rule that matters

- Visit the official KFin Technologies IPO allotment page.

- Select 'SBI Funds Management' from the list of active IPOs.

- Enter any one of the following details: PAN, Application Number, DP ID/Client ID, or Bank Account Number.

- Fill in the required information and click 'Search' to view your allotment status.

Also read: SBI Funds Management IPO: Can the shareholder quota improve your allotment chances? The best way to check your status

- Open the NSE IPO application tracking portal.

- Click on 'Equity & SME IPO Bid Details'.

- Select 'SBI Funds Management' from the dropdown menu.

- Enter your PAN and application number.

- Click 'Submit' to check whether shares have been allotted.

Also read: SBI Funds Management IPO subscribed 41.66x at close; GMP signals 17% listing day pop

- Visit the BSE IPO allotment portal.

- Select 'Equity' as the issue type.

- Choose 'SBI Funds Management' from the list of IPOs.

- Enter your PAN or application number.

- Complete the captcha verification and click 'Search' to view your allotment status.

Also read: SBI Funds IPO attracts bids worth Rs 3 lakh crore

Once the allotment is finalised, investors can check their application status through three official platforms.

The first option is the BSE website, where applicants can select the issue name, enter their PAN or application number and view the allotment after completing the verification process.

Investors can also check the status on the NSE IPO application tracking portal by entering their application details and PAN.

The third option is the registrar, KFin Technologies, where applicants can search using their PAN, application number, Demat account details or bank account number.

After the allotment is completed, successful applicants will receive shares in their Demat accounts, while refunds or the release of blocked funds will be processed for those who do not receive an allotment.

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