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The Economic Times
The Economic Times
Ritesh Presswala

SBI Funds Management IPO ends with nearly 42 times subscription as QIBs drive demand on Day 3; GMP hints at 16% premium

SBI Funds Management SBI Funds SBI IPO Anand Rathi AMC Nirmal Bang Amundi India State Bank of India

The SBI Funds Management IPO closed with a blockbuster response across investor categories, garnering an overall subscription of nearly 42 times. The issue attracted 41.66 times bids for the 12.45 crore shares on offer while the retail portion was subscribed 3.59 times against the 5.42 crore shares reserved for individual investors.

The IPO witnessed robust demand on the final day of bidding, with participation accelerating across categories. Sentiment in the grey market also remained strong, with the grey market premium (GMP) hovering around 16%, indicating a potential listing price of about Rs 666 per share, if current trends persist.

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