India’s largest asset manager, SBI Funds Management, jumped nearly 8.9 per cent in its stock market debut on Tuesday, raising hopes for a revival of domestic listings stalled by the war in Iran and a market downturn. The IPO raised $1bn, the biggest so far this year, and attracted bids worth $31bn.

The strong debut bolsters confidence after a weak start to 2026. The Nifty 50 remains down 7.5 per cent year‑to‑date and the rupee hits record lows. Upcoming mega floats include Mukesh Ambani’s Reliance Jio Infocomm and the National Stock Exchange, together expected to raise about $7bn.

SBI Funds, jointly owned by France’s Amundi and the State Bank of India, holds a 15 per cent share of the $854bn mutual‑fund market. Analysts from Aditya Birla Capital and Sushil Finance praised its dominant position and projected near 20 per cent annual growth.

At the NSE bell‑ringing in Mumbai, Amundi’s Olivier Mariée said the partnership could “drive this market going forward,” adding that for SBI FM “the sky is the limit.”