SBI Funds Management IPO allotment date: Check your application status, latest GMP & more

SBI Funds Management is likely to finalize the basis of allotment of its shares on Friday, July 17. Applicant bidders will get the messages, alerts or emails for debit of their funds either on weekend or latest by Monday, July 20. The StateBank of India subsidiary received a bumper response from the investors during the three day bidding period.

The IPO of SBI Funds Management  was open for bidding between July 14-16. It had offered its shares in the price band of Rs 545-574 per share with a lot size of 26 shares. The company eyed to raise a total of Rs 9,813 crore via IPO, which was entirely an offer-for-sale (OFS) of up to 17,09,56,631 equity shares.

The issue was overall subscribed 41.66 times with nearly 63.82 lakh applications, fetching bids for almost Rs 2.98 lakh crore. The portion for qualified-institutional bidders (QIBs) was subscribed 140.11 times. The quotas for non-institutional investors (NIIs) and retail bidders were subscribed at 22.51 times and 3.6 times, respectively. Employee and shareholders portions were booked 4.65 times and 9.52 times, respectively.

The grey market premium (GMP) of SBI Funds Management has remained stable following a solid bidding as the sentiments in the broader markets remain mixed. Last heard, it was commanding a premium of Rs 95-100 per share, suggesting a listing pop of 17-18 per cent for the investors. Its GMP stood around Rs 90-95 apiece, during the bidding period.

Established in 1992, SBI Funds Management is the largest asset management company (AMC) in India based on assets under management (AUM). It is a joint venture between State Bank of India and Amundi. It offers a wide range of investment products such as equity funds, debt funds, hybrid funds, ETFs, and portfolio management services (PMS). 

Kotak Mahindra Capital, Axis Capital, BofA Securities, HSBC Securities & Capital Markets, ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors and SBI Capital Markets are the lead managers and Kfin Technologies is the registrar of the issue. Refund shall be initiated on Monday, July 20. Shares of the company shall be listed on both BSE and NSE on July 21. 

Investors, who had bid for the issue of SBI Funds Management, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select SBI Funds Management Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘SBIFUNDS’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of KFin Technologies Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.