Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Nikhil Agarwal

SBI’s 15-paise bet: How India's largest bank is turning a tiny cost into mindboggling 382,567% profit

SBI India SBI Funds Management IPO Amundi Amundi India Holding SBI Funds RHP State Bank of India

India’s largest lender State Bank of India (SBI) is set for a return of nearly 3,82,567% on its original investment, while Amundi India Holding stands to book a 13,095% gain, as the two promoter shareholders prepare to pocket a combined ₹11,658 crore in profit through SBI Funds Management's (SBI Mutual Fund) initial public offering, which is the biggest Indian IPO of 2026 so far.

SBI Funds Management Ltd, a subsidiary of State Bank of India, on Thursday announced a price band of Rs 545 to Rs 574 per share for its Rs 11,693 crore IPO. At the upper end of the band, SBI's stake, acquired at a weighted average cost of just 15 paise a share, will fetch gross proceeds of Rs 7,366.39 crore against a cost basis of roughly Rs 1.93 crore, translating into a profit of about Rs 7,364.47 crore.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
More Than 37,000 Squishy Toys Recalled as Water Beads Inside Can Swell in a Child and Evade X-Rays
About 37,480 squishy toys with water beads are recalled. Learn the warning signs of ingestion and why X-rays may miss swallowed beads.
Medical Daily
Medical Daily
Is Store-Bought Rotisserie Chicken Actually Healthy? Here’s What to Check on the Label
A grocery store rotisserie chicken can make dinner easier without the cost of takeout or the work of cooking from scratch. It provides protein and can be used in salads, sandwiches, soups, and family meals throughout the week. However, not every rotisserie chicken has the same nutritional profile. Some contain…
Grocery Coupon Guide
Grocery Coupon Guide
Why Are Eggs Refrigerated in America but Left on the Shelf in Other Countries?
Walk into a grocery store in the United States, and you will find eggs in a refrigerated section. Visit many European grocery stores, however, and eggs may sit on ordinary shelves at room temperature. This difference often surprises American travelers who wonder why the same food requires different storage methods.…
Grocery Coupon Guide
Grocery Coupon Guide
Kim Kardashian Reveals Five Nannies for Four Kids as Kanye West and Bianca Censori Step Out in Los Angeles
Kanye West and Bianca Censori were seen with Playboi Carti at ComplexCon in Los Angeles, shortly after Kim Kardashian discussed raising their four children and using five nannies.
International Business Times UK
International Business Times UK
Woman says a male canvasser knocked at her door and wanted to talk pro-life. Then she asked him: ‘Have you ever been pregnant?’
She explained why she is pro-choice.
We Got This Covered
We Got This Covered
Doing Everything Right but Still Have Dull Skin? Here’s Why
If this sounds familiar, it doesn't necessarily mean your skincare routine is bad. Healthy-looking skin depends on much more than the products sitting on your bathroom shelf. Dead skin-cell buildup, dehydration, sun exposure, irritation, lifestyle factors and even using too many active ingredients can all affect how your skin looks.…
MyLifeXP
MyLifeXP
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play