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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
The money raised through the Offer for Sale goes to existing investors, not the company.
(₹ in Crore)
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SBI Funds Management Limited is an asset management company that runs SBI Mutual Fund, the largest fund house in India measured by assets under management. Alongside mutual funds it offers portfolio management services, alternative investment funds, and advisory mandates for domestic and offshore clients. Its earnings come mainly from fees charged as a percentage of the assets it manages, and mutual fund schemes contribute the bulk of that revenue. Incorporated in 1992, the company is one of the oldest fund managers in the country and is structured as a joint venture between State Bank of India and Amundi, one of Europe's largest asset managers. As of 2025 it oversaw roughly Rs 16.32 lakh crore in assets, equal to about 15.5 percent of the Indian mutual fund industry's total AUM, and it served a client base numbering in the tens of millions. It also operates the largest portfolio management platform and the largest Specialised Investment Fund platform in India by assets. The business reaches investors through a wide, multi-channel distribution footprint that pairs the nationwide banking network of State Bank of India with independent distributors and a growing set of digital channels. Its scale and brand give it a leading position across retail and institutional segments, while its results remain closely tied to the level and mix of its quarterly average assets under management and to the direction of Indian capital markets.
The company completed its anchor allocation on 13 July 2026, raising about Rs 2,662.96 crore by placing 4,63,93,095 shares at Rs 574 each with 129 institutional investors. Domestic mutual funds took roughly 37 percent of the anchor book across fund houses such as HDFC, ICICI Prudential, Nippon India, Kotak, Aditya Birla Sun Life and UTI, with Life Insurance Corporation of India the single largest allottee, alongside insurers and leading foreign investors including the Government of Singapore, Norway's Government Pension Fund Global, the Abu Dhabi Investment Authority, BlackRock, Goldman Sachs, Capital Group and Fidelity.
Source: RHP • Analysis provided for informational purposes
Last Updated: 17 July 2026, 4:00 PM
Market leadership
It is the largest asset manager in India by assets under management and also leads the portfolio management and Specialised Investment Fund segments, giving it scale advantages across product lines.
Strong parentage
The company draws on the nationwide reach and brand of State Bank of India together with the global investment expertise of its co-promoter Amundi.
Wide distribution
A multi-channel network spanning bank branches, independent distributors, and digital platforms gives it broad access to investors across the country.
Large systematic investing base
It runs one of the country's largest systematic investment plan books, with roughly 1.58 crore active plans, giving it a steady stream of recurring inflows.
Earnings tied to AUM
Revenue and profit depend heavily on quarterly average assets under management, so market declines or investor redemptions directly reduce fee income.
Market dependence
Results are closely linked to the health of Indian capital markets, and weak conditions can shrink managed assets and slow inflows.
Competition and concentration
The company competes intensely with other fund houses and investment products, and a large share of its assets sits within SBI Mutual Fund schemes.
SBI Funds Management Limited
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Regulatory change
Shifts in the rules governing asset management, including fee structures, could affect how the business operates and its profitability.
Scheme concentration
More than 43 percent of assets sit within its top five schemes, so weak performance or heavy redemptions in any of them would weigh disproportionately on results.
Tax litigation exposure
The company is contesting indirect tax demands of about Rs 145 crore, and an adverse ruling could add to its costs or liabilities.