SBI Funds Management’s upcoming IPO is preceded by a pre-IPO placement in which State Bank of India sells a minority stake in the asset manager. Multiple reports say SBI offloads about 2.9 crore shares for a total of ₹1,655 crore at ₹574 per share, which is cited as the top end of SBI Funds Management’s IPO price band. The stake sold is described as about 1.42% of SBI Funds Management, and the transaction provides an early valuation signal ahead of the public offering.
NDTV and Business Line report that the placement involves key institutional investors, with NDTV citing 2.9 crore shares sold to 30 investors at ₹574 per share. Business Line names several entities participating, including 360 ONE funds and Tata AIG General Insurance Company. Separate coverage from Economic Times adds that SBI Funds Management also raises a larger amount from anchor investors—₹2,663 crore—through allocations to 129 anchor investors at the same ₹574 per share ahead of the IPO opening on July 14. Overall, sources align on the stake size, share count, placement value, and price per share, while describing different components (pre-IPO selling by SBI and anchor allocations by SBI Funds Management).
