SBI Funds Management Ltd (SBIFM) has closed a pre-IPO placement round raising ₹1,655 crore, clearing a key hurdle ahead of its initial public offering.
The transaction involved the sale of a 1.42% stake to 30 investors, including major sovereign wealth funds Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC.
2 billion IPO, positioning SBIFM as one of the most significant financial sector listings in recent months.
The move validates the valuation framework for the upcoming public listing, which is priced in the range of ₹545 to ₹574 per share.
The completion of the anchor investor round signals strong institutional appetite for India’s largest asset management company.
With the pre-IPO tranche secured, the focus now shifts to the retail subscription, which opens on July 14.
The offering is part of a broader $1.2 billion IPO, positioning SBIFM as one of the most significant financial sector listings in recent months.