SBI Fund Management Ltd (SBFM) debuted on July 21, 2026, listing at ₹613 per share — a 6% premium over the ₹574 offer price — before settling at ₹610. The ₹9813 crore IPO marks India's largest asset manager's public market entry.

MD & CEO Debasish Mishra outlined ambitious growth targets, aiming to add 100 million new investors within five years from India's 140 crore population, where only 10 crore currently hold investment portfolios. With 53 crore SBI bank customers but just 5.5 lakh invested in mutual funds, the company sees significant cross-sell potential.

SBI Chairperson Challa Sreenivasulu Setty addressed regulatory concerns about mis-selling, stating the bank will only distribute subsidiary products and targets 14 lakh wealth management customers by 2030. A key constraint remains the limited fund manager team, which SBFM plans to expand.