Business

SBI Funds Management: India's record 2026 IPO briefly dips below offer price

Herz — Business Desk · 24 July 2026 at 07:32 · 30s summary · 1 min read

The essentials

On July 24, 2026, shares of SBI Funds Management Ltd.—described as India's largest IPO of 2026—briefly fell below their offer price on the Mumbai stock exchange. The stock touched 572 rupees, down 0.9%, falling below the IPO price of 574 rupees, before rebounding to 578.60 rupees at 12:27 local time. This movement occurred four days after SBI Funds Management's market debut on July 21, 2026. The company is described as India's largest asset manager, according to Bloomberg.

SBI Funds Management is described as India's largest asset manager.
On July 24, 2026, the stock touched 572 rupees, down 0.9% below its IPO price.
The IPO price was set at 574 rupees.
The stock rebounded to 578.60 rupees at 12:27 local time the same day.

What we know

SBI Funds Management Ltd., described as India's largest asset manager, made its market debut on the National Stock Exchange in Mumbai on July 21, 2026. Bloomberg describes this transaction as the largest initial public offering in India in 2026.

On July 24, 2026, the stock briefly fell 0.9% to 572 rupees, dipping below the offer price of 574 rupees. It then recovered to 578.60 rupees at 12:27 local time. This decline occurred four days after the company's market debut.