iStock According to SBI's exchange filing, the bank signed agreements on July 9 to sell a 1.42% stake in SBI Funds Management at ₹574 per share, the upper end of the IPO price band.

The transaction is expected to be completed on July 10.

Synopsis SBI Funds Management secured ₹1,655 crore from investors before its IPO.

This pre-IPO share sale occurred ahead of the company's upcoming public offering.

The asset manager's ₹11,693 crore IPO is the largest public issue scheduled for 2026.

PI Opportunities Fund-II and Enam's Akash Manek Bhanshali were among the significant investors.

The transaction involved selling a 1.42% stake at ₹574 per share.

By ET Bureau XPeers Go Digit General Insurance Share Price ICICI Lombard General Insurance Company Share Price Cholamandalam Financial Holdings Share Price The New India Assurance Company Share Price Indiabulls Share Price Jul 11, 2026, 08:06:00 AM IST Follow us Mumbai: SBI Funds Management has raised ₹1,655 crore through a pre-IPO share sale to a clutch of institutional investors and individuals ahead of the launch of its initial public offering (IPO) next week.

The country's largest asset manager's ₹11,693 crore IPO is the largest public issue so far in 2026.ADVERTISEMENT ET reported on July 4 that SBI Funds Management was looking to raise up to ₹2,000 crore from institutional investors before the public issue.The fund house sold about 2.88 crore shares to 30 investors.

Among the largest investors were PI Opportunities Fund-II and Enam's Akash Manek Bhanshali, who invested about ₹200 crore each.

3P India Equity Fund I, led by investor Prashant Jain, also participated with an investment of around ₹150 crore.

Other investors in the placement include Bennett Coleman & Co, Malabar India Fund, Tata AIG General Insurance, Go Digit General Insurance, Anand Rathi Global Finance, Capri Global Ventures and Clarus Capital, among others.

According to SBI's exchange filing, the bank signed agreements on July 9 to sell a 1.42% stake in SBI Funds Management at ₹574 per share, the upper end of the IPO price band.