SBI Funds Management has opened its initial public offering for public subscription, launching a ₹11,102 crore ($1.3 billion) offer for sale.
The book build, which runs from Tuesday, July 14, through Thursday, July 16, marks the market debut of India's oldest and largest asset management company.
The offering is structured entirely as an offer for sale, meaning existing promoters are divesting their stakes rather than the company raising fresh capital for growth.
The listing represents a significant milestone for the Indian asset management sector, which has seen robust inflows in recent years.
As the investment manager for SBI Mutual Fund, SBI Funds Management holds a dominant market share in the country's mutual fund industry.
The IPO provides investors with a direct equity route to capitalize on the growing wealth management market in India, bypassing the need to hold shares in the parent bank, State Bank of India, which has faced its own valuation challenges.