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The Economic Times
The Economic Times
Akash Podishetti

SBI Funds Management gets highest applications for any IPO this year, sees Rs 2.98 lakh crore investor rush

SBI Funds Management SBI IPO Amundi India GMP State Bank of India

SBI Funds Management's Rs 9,813 crore IPO was subscribed 42 times on the final day of bidding, led by strong demand from qualified institutional buyers. The issue received bids for 518 crore shares against 12.45 crore shares on offer, according to stock exchange data. The SBI MF issue generated a demand of close to Rs 2.97 lakh crore. The IPO received around 65 lakh applications, the highest number for any IPO this year.

The qualified institutional buyer portion was subscribed 140.11 times, showing strong institutional appetite for India’s largest asset management company. The non-institutional investor portion was subscribed 22.51 times, while the retail portion was booked 3.59 times.

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