Woofun AI reports that SBI Funds Management listed in Mumbai on July 21, closing its debut session with a 6.2% increase to 609.75 rupees. This performance established a market capitalization of 1.24 trillion rupees, approximately $12.89 billion, positioning it as India's second-largest listed fund manager after ICICI Prudential Asset Management.

The initial public offering raised $1.03 billion, marking the largest IPO in India for the current year. The deal attracted roughly $31 billion in subscriptions, with cornerstone investors including BlackRock and sovereign wealth funds from Singapore, Abu Dhabi, and Norway committing approximately $2.785 billion. SBI Funds operates as a joint venture between State Bank of India and Amundi, managing 12.5 trillion rupees in assets as of March 2026.