| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 2690.56 | 3597.76 | 4389.48 |
| Expenses | 752.46 | 871.81 | 970.61 |
| Other Income | 735.52 | 638.39 | 586.62 |
| Total Revenue | 3426.08 | 4236.15 | 4976.11 |
| Profit Before Tax | 2673.62 | 3364.34 | 4005.49 |
| Net Profit | 2072.78 | 2540.15 | 3067.37 |
SBI Funds Management
SBI Funds Management IPO
₹14,170
2.58 xOver-subscribedBidding Dates 14 Jul, 26 -16 Jul, 26
Min Investment ₹14,170
Lot Size26
Price Range ₹545 – ₹574
Issue Size ₹9,812.91 Cr.
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IPO Subscription Details
Retail Subscription Details
1.59 x
Non-Institutional Buyers (sHNI)
5.36 x
Non-Institutional Buyers (bHNI)
6.87 x
Qualified Institutional Buyers (QIB)
1.5 x
Employees
2.26 x
Total2.58 x
2.58 x IPO Timeline
IPO Offer Start
14 Jul,26
IPO Offer Ends
16 Jul,26
Allotment Finalisation
17 Jul,26
Refund Initiation
20 Jul,26
Listing of Shares
21 Jul,26
IPO Analysis
Strengths
The company is India's largest AMC by mutual fund QAAUM as of December 31, 2025, with a market share of 15.4% and lowest operating expense ratio of 0.08% among top 10 AMCs.
The company operates India's largest PMS platform with 39.0% market share and largest SIF platform with 61.0% market share as of December 31, 2025.
The company holds 16.09% market share by live SIP count with 15.76 million live SIPs, demonstrating strong investor stickiness and retention.
Risks
The company's revenue is primarily derived from management fees calculated as a percentage of QAAUM, which stood at ₹29,040.26 billion as of December 31, 2025. Any decline in QAAUM due to market volatility, investor redemptions, or shifts in composition from higher-fee to lower-fee products could significantly impact revenues and profitability.
The company's business is significantly dependent on Indian capital market performance, with close correlation between market returns and mutual fund industry growth. Any prolonged market downturns, increased volatility, or loss of investor confidence could result in QAAUM decline, reduced investor confidence, and higher redemptions.
Poor performance relative to benchmarks could lead to investor redemptions, particularly from institutional investors. As of December 31, 2025, 11 schemes with ₹1,220.91 billion QAAUM (15.20% of total mutual fund QAAUM) ranked in the bottom quartile based on three-year performance.
Objectives
The company intends to carry out an Offer for Sale of up to 203,709,239 Equity Shares of face value of ₹1 each by certain Selling Shareholders.
The company aims to achieve the benefits of listing the Equity Shares
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 7106.93 | 8771.86 | 6420.45 |
| Current Assets | 6819.79 | 8336.04 | 5920.66 |
| Fixed Assets | 287.14 | 435.82 | 499.78 |
| Total Equity & Liabilities | 7106.93 | 8771.86 | 6420.45 |
| Total Liabilities | 359.18 | 474.33 | 457.38 |
| Current Liabilities | 131.59 | 148.14 | 160.64 |
| Non Current Liabilities | 227.59 | 326.18 | 296.74 |
| Total Equity | 6747.75 | 8297.53 | 596.31 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 1.68 | 11.78 | 4.27 |
| Investing Activities | -1304.91 | -937.55 | 2974.46 |
| Operating Activities | 1438.21 | 1992.38 | 2487.60 |
| Financing Activities | -131.62 | -1043.05 | -5457.79 |
About SBI Funds Management
The company was incorporated in 1992 and received SEBI's approval to act as the asset management to SBI Mutual Fund in 1993. The company became a joint venture in 2004 when Societe Generale Asset Management S.A. acquired a 37% stake. The company's promoters are State Bank of India, Amundi India...more
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