SBI Funds Management Limited successfully listed its equity shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on July 21, 2026. The listing follows an initial public offering that was subscribed 41.66 times, reflecting strong investor confidence across domestic and international institutional categories, as well as retail and employee segments. The shares of the asset management company are now trading under BSE scrip code 500112 and NSE scrip code SBIN.

IPO Overview

The initial public offering comprised an offer for sale of up to 170,956,631 equity shares by State Bank of India and Amundi India Holding. The offer price was fixed at ₹574 per equity share, with eligible employees entitled to a discount of ₹54 per share. Prior to the IPO, State Bank of India sold 28,832,748 shares to 30 investors at the same price for an aggregate consideration of ₹1,655 crores.

Offer Structure

The offer for sale included up to 99,501,649 equity shares by State Bank of India and up to 71,454,982 equity shares by Amundi India Holding. The issue was conducted through the book-building process in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Financial Performance

For the fiscal year 2026, SBI Funds Management reported a total income of ₹4,969.09 crores and reserves and surplus of ₹3,533.09 crores. These figures represented 0.70% of the total income and 0.59% of the reserves and surplus of the SBI Group, respectively.

Management Commentary

Shri Challa Sreenivasulu Setty, Chairman of State Bank of India and SBI Funds Management Limited, stated that the listing reflects the trust of millions of investors and marks a new phase of responsibility and accountability. Ms. Valérie Baudson, Chief Executive Officer of Amundi, highlighted the strength of the partnership between SBI and Amundi, noting that the IPO supports the company's growth ambitions.

State Bank of India has appointed Sunil Ramgopal Agrawal as its Chief Financial Officer (CFO) Designate. Agrawal joined the bank on July 15, 2026, and will assume the full responsibilities of the CFO effective August 1, 2026. He will be designated as Key Managerial Personnel (KMP) under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, upon assuming office. The appointment was disclosed to the stock exchanges pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.

Leadership Profile

Agrawal brings over 27 years of experience in financial services and strategy to the role. Prior to this appointment, he served as the Chief Financial Officer of Life Insurance Corporation of India (LIC), where he was responsible for managing the finance function, strengthening financial operations, and driving strategic initiatives.

His expertise spans a broad range of disciplines, as outlined below:

Throughout his career, Agrawal has worked closely with Boards, regulators, investors, and other key stakeholders to support organizational growth and transformation agendas. He is a Chartered Accountant and holds a B.E. in Computer Science.