The SBI Funds Management shares fell 4% to a low of Rs 585.30 on the NSE a day after listing at a premium of nearly 7%.
However, the stock closed the first day of trade on a lower note and continued to trade in the red today. On July 21, it settled 0.5% lower at Rs 610.15 on the NSE, but this was 6.3% higher than the listing price of Rs 613.30.
SBI Funds Management share price movement on July 21
In terms of intra-day action on July 21, the stock surged more than 2% to touch the day’s high of Rs 624.95 from the opening price in today’s trade but came off that price.
SBI Funds Management was listed at over a 7% premium to the issue price at Rs 613 per equity share. The issue price was fixed at Rs 574 per share.
Top 3 categories contribute 30% of AUM
As of Q1FY27, SBI Funds Management managed Rs 12.5 lakh crore across more than 120 schemes, excluding domestic FoFs. The company offers 37 schemes across the equity and hybrid categories, alongside 21 ETFs and 21 index funds. Among large AMCs, SBIAMC has the least concentrated scheme mix, with only one scheme accounting for over 10% of AUM versus 3-4 schemes for key peers. Equity AUM is also more diversified by category, with the top-3 categories contributing 30% of equity AUM, compared with 50% for HDFC AMC and Nippon Life India Asset Management and 35% for ICICI AMC.
According to market veteran Ajay Bagga, “Total Assets Under Management (AUM) for the industry is increasingly driven by a sticky retail base, rather than volatile corporate treasury flows. Captive flows from EPFO are aiding the passive AUM growth as well.”
About the SBI Funds Management IPO
State Bank of India (SBI) is set to receive about Rs 5,711 crore from the initial public offering. The proceeds accrued entirely to the country’s largest lender as the IPO is an offer for sale, with SBI selling 99.5 million shares, equivalent to approximately 4.89% of the company’s equity.
The transaction does not involve the issuance of new shares by SBI Funds Management.
SBI Funds Management IPO: Final subscription
The public issue of SBI Funds Management was subscribed 41.66 times, prominently featuring the list of the 10 most subscribed mainboard issues this year. The biggest demand came from Qualified Institutional Buyers (QIBs). The portion was subscribed 140.11 times.
Similarly, on the other side, the Non-Institutional Investor (NII) category was subscribed 22.51 times, while the retail investor portion was booked 3.60 times.
