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)
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