India's SBI Funds Management rises 6.9% in debut after $1.03 billion IPO
21/07/2026 05:17
India's SBI Funds Management rises 6.9% in debut after $1.03 billion IPO July 21 (Reuters) - SBI Funds Management SBIA.NS listed at a 6.85% premium to its issue price on Tuesday after $1.03 billion initial public offering last week, buoyed by strong growth prospects in India's $853 billion asset management industry.
SBI Funds Management, a joint venture between State Bank of India SBI.NS, the country's largest lender, and Amundi AMUN.PA, Europe's biggest asset manager, oversaw assets worth 12.5 trillion rupees ($131 billion) as of March 2026, making it India's largest asset manager.
Its shares listed at 613.3 rupees on the National Stock Exchange of India, up 6.85% from its issue price of 574 rupees per share.
(Reporting by Vivek Kumar M; Editing by Sherry Jacob-Phillips)
Recent news on ICICI Prudential Asset Management
See all newsCentrum cuts PT on India's ICICI Prudential Asset Management Co
Brief: ICICI Prudential Asset Management Company Limited Says Dividend 30 Rupees Per Share
India's ICICI Prudential AMC gets RBI nod to buy up to 9.95% stakes in Kotak, three other banks
India's ICICI Prudential AMC falls on Prudential's stake sale
Brief: Prudential Disposes Interests In ICICI Prudential Asset Management Company