SBI Funds Management has set the price range for its initial public offering, valuing the firm at approximately $1.22 billion.
The move marks a critical step in the listing process for India's largest asset management company, which had previously secured anchor commitments from the Abu Dhabi Investment Authority (ADIA) and Singapore's sovereign wealth fund GIC.
The price band announcement follows the company's decision to open the IPO for subscription on July 14.
By establishing the valuation range ahead of the subscription window, the firm provides clarity to institutional and retail investors on the entry price for shares in the state-backed entity.
The listing represents a significant milestone for the Indian asset management sector, which has seen growing interest from global sovereign wealth funds.
The participation of ADIA and GIC underscores the international appetite for exposure to India's financial services growth story, even as domestic market conditions remain volatile.