SBI Funds Management Ltd

SBI Funds Management Limited, a joint venture between SBI and AMUNDI, announced that Devinder Pal Singh will cease to be a Key Managerial Personnel and Joint Chief Executive Officer with effect from the close of business hours on August 31, 2026, due to attaining the age of superannuation. The company’s revised list of Key Managerial Personnel now includes Debasish Mishra as Managing Director and Chief Executive Officer, Denys Charles Jean Marie Fougeroux De Campigneulles as Executive Director and Deputy Chief Executive Officer, Inderjeet Ghuliani as Chief Financial Officer, and Vinaya Datar as Chief Compliance Officer, Company Secretary and Head Legal.

SBI Funds Management Limited announced that Rajat Grover, currently Senior Management Personnel and Chief Human Resources Officer and Head Corporate Social Responsibility, will assume the additional responsibility of overseeing sustainability, and will be designated as Chief People & Sustainability Officer (CPSO), effective August 20, 2026.

SBI Funds Management Limited announced that Rajat Grover, currently Senior Management Personnel and Chief Human Resources Officer and Head Corporate Social Responsibility, will assume the additional responsibility of overseeing sustainability, and will be designated as Chief People & Sustainability Officer (CPSO), effective August 20, 2026.

SBI Funds Management Limited announced August 5, 2026, the appointment of Mr. Manish Mehta as Chief Business Officer and identified him as a Senior Management personnel, effective the same date, bringing over three decades of experience in the BFSI sector.

SBI Funds Management will hold a meeting of the Board of Directors of the Company on 3 August 2026.

The stock debuted at Rs 610, marking a premium of 6.27% to the issue price. So far, the stock has hit a high of Rs 624.80 and a low of Rs 610. On the BSE, over 39.51 lakh shares of the company were traded in the counter so far. The initial public offer of SBI Funds Management 5,18,95,47,350 received bids for shares as against 12,45,63,536 shares on offer. The issue was subscribed 41.66 times. The issue opened for bidding on 14 July 2026 and it closed on 16 July 2026. The price band of the IPO was fixed between Rs 545 to Rs 574 per share. The initial public offer comprised offer for sale of 17,09,56,631 equity shares, aggregating to Rs 9,299.55 crore at the lower price of Rs 545 and Rs 9,795.32 crore at the upper price band of Rs 574. The offer for sale from promoters comprises sale of 9,95,01,649 equity shares by SBI and up to 7,14,54,982 equity shares by Amundi India Holding. The promoter shareholding decline from pre-IPO level of 96.38% to 88.0% post IPO. The funds raised to the tune of Rs 30.71 crore will be used towards setting up a new weaving unit at proposed manufacturing unit 3 to expand its production capabilities to produce grey fabric, Rs 52.2 crore will be utilised towards repaying certain borrowings and the balance towards general corporate purposes. SBI Funds Management (SBI FM) is an asset management company, engaged in the mutual fund business. It offers a wide range of actively managed and passive investment products catering to diverse investor risk profiles and financial objectives. In addition to its core mutual fund business, the company provides Portfolio Management Services (PMS), advisory mandates, Alternative Investment Funds (AIFs), and Specialized Investment Funds (SIFs). International business comprises of India-focused investment management mandates for overseas institutional investors and advisory services to Amundi's Global Emerging Markets mandates. SBI FM maintains an international distribution presence in the Middle East and leverage SBI and Amundi's global networks to serve customers across key international markets. The company reported a quarterly average mutual fund assets under management (QAAUM) of Rs 12.5 lakh crore as of 31 March 2026, with a market share of 15.3%. Including Portfolio Management Services (PMS) and other advisory mandates (collectively referred to as Alternates), SBI Funds Management's total QAAUM stood at Rs 29.46 lakh crore as of 31 March 2026. The firm reported a consolidated net profit of Rs 3,067.38 crore and income from operations of Rs 4,389.49 crore for the twelve months ended on 31 March 2026.Powered by Capital Market - Live

The equity shares of SBI Funds Management (Scrip Code: 544829) are listed effective 21 July 2026 and admitted to dealings on the exchange in the list of ''B'' group securities. At 09:19 IST, the pre-open indicative price of the stock was down 3.31% to the offer price of Rs 574.