SBI Funds Management has set its initial public offering price band at ₹545 to ₹574 per share. The public issue, structured as an offer for sale, opens for subscription on July 14. The pricing comes at a notable discount to the company's unlisted market value.
This marks the largest IPO in India so far in 2026. The decision has drawn attention in grey market circles, where shares had traded at higher valuations before the band was announced.
Investors who purchased shares in the unlisted market earlier may now encounter mark-to-market losses once trading begins at the official price range.
The offer for sale allows existing shareholders to sell portions of their holdings to the public without the company raising fresh capital.
