SBI Funds Management Ltd was established in 1992 and is the largest asset management company (AMC) in India based on assets under management (AUM). The company manages the well-known SBI Mutual Fund. It is a joint venture between State Bank of India and Amundi. The company offers a wide range of investment products such as equity funds, debt funds, hybrid funds, ETFs, and portfolio management services (PMS). As of 2025, the company manages around ₹16.32 lakh crore in assets, which represents about 15.5% of India’s total mutual fund AUM.
As of December 31, 2025, the company serves more than 16.05 million investors, including both individual and institutional clients.
It manages a diversified portfolio of 126 mutual fund schemes, covering different categories such as:
- Equity and equity-oriented funds
- Debt funds
- Arbitrage funds
- Exchange Traded Funds (ETFs)
- Index funds
- Overseas fund-of-funds
- Liquid and overnight funds
The company also has a global investment presence. Its international business includes:
India-focused investment mandates for institutional investors in Japan, Australia, and Korea, with AUM of ₹232,090.37 million.
UCITS India-focused funds sponsored by Amundi, with AUM of ₹86,816.48 million, distributed across Europe, the Middle East, South America, and Southeast Asia.
Advisory services for Amundi’s Global Emerging Markets funds, managing ₹145,839.65 million in India-related assets.
Competitive Strengths
- Market Leader in India
The company is the largest asset management company in India by mutual fund AUM, benefiting from strong growth and operating scale. - Leader in Portfolio Management Services (PMS)
It is the largest PMS provider in India, with 39% market share in PMS and advisory assets. It also runs the largest Specialized Investment Fund (SIF) platform with 61% market share. - Strong SIP Franchise
The company has a 16.09% market share in live SIP accounts, showing strong investor trust and long-term investment participation. - Structured Investment Process
A process-driven investment framework helps maintain consistent performance and supports continuous product innovation. - Strong Distribution Network
A well-diversified, pan-India distribution network helps the company reach a wide range of investors. - Advanced Technology and Data Use
The company uses modern technology and data analytics to improve investor engagement and provide better services.
| Purpose | Amount (₹ Cr) |
|---|---|
| — |
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 6,420 | 8,772 | 7,107 |
| Revenue | 4,976 | 4,236 | 3,426 |
| PAT | 3,067 | 2,540 | 2,073 |
| EBITDA | 4,058 | 3,413 | 2,719 |
| Net Worth | 5,963 | 8,298 | 6,748 |
| Reserves | 327 | 255 | 182 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | 56.63 | 77,321,826 | 4,378,681,424 |
| NII / HNI | 22.30 | 23,196,549 | 517,328,786 |
| Retail (RII) | 3.43 | 54,125,280 | 185,918,044 |
| Employee | — | 3,257,347 | — |
| Total | 2.56 | 3,257,347 | 8,328,086 |
* Amount calculated at upper price band (₹574) · ** Total includes all investor categories
- 1 Initiation of Refund 20 Jul 2026
- 2 Credit of Shares to Demat 20 Jul 2026
- 3 Lock-in Period (30%) Sun, Aug 16, 2026
- 4 Lock-in Period (50%) Thu, Oct 15, 2026
- The IPO P/E of 38x reflects a moderate valuation relative to typical market ranges.
- Pre-issue EPS of ₹15 compares to post-issue EPS of ₹15 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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