SBI Mutual Fund

About the company

SBI Fund Management is one of the oldest asset management companies (AMCs), incorporated in 1992 and approved by SEBI in 1993 to act as the investment manager for SBI Mutual Fund. In 2004, the company became a joint venture after Société Générale Asset Management acquired a 37% stake. This stake later came under Amundi India Holding following the 2011 merger of Crédit Agricole and Société Générale's asset management businesses. Currently, State Bank of India (SBI), Amundi India Holding and Amundi Asset Management are promoters of the company. SBI Funds Management is the largest asset management company (AMC) in India based on quarterly average assets under management (QAAUM). It managed the mutual fund QAAUM of ₹12.51 lakh crore and held a 15.3% share of the Indian mutual fund industry as of March 31, 2026. Its total QAAUM stood at ₹29.46 lakh crore as of March 31, 2026, including its portfolio management services (PMS) and other advisory mandates. The company is also the largest manager of passive funds, including exchange-traded funds (ETFs) and index funds, with a market share of 27.9% and QAAUM of ₹4.06 lakh crore. As of March 31, 2026, the company served 1.8 crore investors through 128 mutual fund schemes. Its product portfolio includes equity funds, debt funds, arbitrage funds, ETFs, index funds, overseas fund-of-funds, liquid funds and overnight funds. Apart from mutual funds, it also offers portfolio management services (PMS), advisory mandates, alternative investment funds (AIFs) and specialised investment funds (SIFs). Its international business includes India-focused investment mandates for overseas institutional investors and UCITS funds sponsored by Amundi. Individual investors (comprising retail and high net worth individuals (HNIs) account for 47.89% of its total mutual fund monthly average assets under management (MAAUM). The company has also built a strong presence in cities outside of the top 30. It had B-30 MAAUM of ₹2.77 lakh crore, which is 22.8% of its total mutual fund MAAUM, indicating its strong presence across tier-2 and tier-3 cities. In February 2025, it launched the Jan Nivesh SIP facility that allows investors to invest with a minimum of ₹250 a day. SBI Funds Management has one of the largest distribution networks in the industry. It worked with 132,519 institutional and individual mutual fund distributors comprising 122,460 independent financial advisors, 9,964 national distributors and 95 banks, including SBI as of March 31, 2026. It has one of the widest distribution networks in India, reaching 98.19% of the PIN codes in the country. The company has also created a robust digital platform with its InvesTap mobile app. The app had 39.7 lakhs registered users, 33.9 lakhs active users, and 58 lakhs downloads as of March 31, 2026, with an activation rate of 57.17%. India’s mutual fund industry continues to benefit from a slow shift in household savings. The ratio of assets under management (AUM) of mutual funds to scheduled commercial bank deposits rose to 28.7% in March 2026 from 19.7% in March 2020. Retail participation in mutual funds has been steadily on the rise. Individual investors held 62.8% of the industry’s AUM in March 2026, versus 53.7% in March 2021. SIPs continue to be one of the biggest growth drivers for the mutual fund industry. As of March 2026, the industry SIP assets were ₹15.1 lakh crore, accounting for over 20% of the total assets of the mutual fund industry. Simultaneously, the number of SIP accounts grew to about 10.45 crore. One of the biggest opportunities for the mutual fund industry still lies in cities beyond the top 30 (B-30), as mutual fund penetration is still low in these markets despite their large population base. The top 10 AMCs have an average of 18.2% of their assets in B-30. The company continues to be one of the leaders in the SIP segment. As of March 31, 2026, it had 1.62 crore live SIP accounts, accounting for about 15.5% of the industry’s total SIP accounts. The company added 90.1 lakh new SIP accounts in FY26. Of these, 61.4 lakhs or 68% of the SIP accounts were added from B-30 cities. The company is also better situated in B-30 markets than the industry as a whole. It has a market share of 19.2% in B-30 AUM compared with its overall mutual fund market share of 15.3%, indicating its strong presence in smaller cities. This leadership is also reflected in SIPs, with 65.16% of the company’s total SIP accounts coming from B-30 cities as of March 31, 2026. The company plans to grow its retail investor base further by increasing its footprint in B-30 cities and rural markets. It also intends to diversify its product portfolio by launching more passive investment products, expanding its PMS business and growing its AIF and SIF offering. At the same time, it plans to expand its international business by expanding its presence in GIFT City IFSC and launching more international investment products under the Liberalised Remittance Scheme (LRS) and the Overseas Portfolio Investment (OPI) route. Now, SBI Fund Management is launching its initial public offering (IPO), which is a complete offer-for-sale of ₹9,812.9 crore. Its shares will be listed on the NSE and BSE. ### **How to pre-apply for SBI Funds Management IPO?** You can pre-apply for SBI Funds Management IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘SBI Funds Management IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app ### **How to apply for SBI Funds Management IPO?** If you are interested in this investment opportunity but unsure how to apply for SBI Funds Management IPO, here are the steps that you need to follow. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for SBI Funds Management IPO on Upstox: - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘SBI Funds Management IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ### **How to check the SBI Funds Management IPO allotment status?** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes. Here’s a step-by-step guide on how to check the SBI Funds Management IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your SBI Funds Management IPO allotment status will be mentioned

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   14 Jul 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   16 Jul 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   17 Jul 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   20 Jul 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   20 Jul 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   21 Jul 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.