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SBI Funds Management set to debut on July 21 after strong IPO
The deal priced at ₹545 to ₹574 per share, raised ₹9,812.91 crore, and grey market premium today implied a likely listing near ₹678, about 18.1% above the top of the offer range.
SBI Funds Management Ltd is set to make its Dalal Street debut on Tuesday, July 21, with shares scheduled to list on both BSE and NSE, according to LiveMint Markets. The firm’s IPO followed a subscription period from July 14 to July 16, with allotment finalized on July 17.
The IPO raised ₹9,812.91 crore through a book-building issue that was entirely an offer for sale of 17.10 crore equity shares by SBI and Amundi India Holding. The price band was set at ₹545 to ₹574 per share.
Subscription demand was reported as 41.66 times in total, including 3.60 times in the Retail Individual Investors category and 22.51 times among Non-Institutional Investors, while the Qualified Institutional Buyers category received 140.11 times subscriptions.
Ahead of listing, LiveMint Markets cited grey market premium signals, saying the IPO GMP today was ₹104 per share, implying an estimated listing price of ₹678. That would place the debut level at a premium of 18.12% to the issue price of ₹574 per share.