SBI Funds IPO subscribed 2.77 times on Day 2; NII segment leads demand

Mumbai: The ₹9,813-crore Initial Public Offering (IPO) of SBI Funds Management was subscribed 2.77 times on Wednesday- the second day of subscription. The Qualified Institutional Buyer (QIB) portion was subscribed 1.5 times, Non-Institutional Investors (NII) portion 6.58 times, and retail investor portion was subscribed 1.61 times on Wednesday. Portion reserved for shareholders of its parent company, State Bank of India, was subscribed 3.98 times. The issue, biggest in 2026 yet, will close for bids on Thursday. The IPO is priced at ₹545-574 apiece.