SBI Funds Management IPO

About this issue

SBI Funds Management listed at +6.8% against its issue price of ₹574. The book is 41.73 times subscribed overall. The grey market premium is +₹65 (+11.3%), which is an informal figure and not a quoted price. Our call is Must Apply, on 100% of our checks.

Segment

Mainboard

Price

₹574

Lot size

26 shares

One lot costs

₹14,924

Issue size

₹9,795 Cr

Grey market premium

+₹65 (+11.3%)

Subscribed

41.73x

Listed at

+6.8%

Our call

Must Apply

What we checked

• Profitable in the latest yearPAT ₹3067.38 Cr
• Profit grew year on yearPAT +21%
• Revenue grew year on yearRevenue +17%
• Return on net worth above 15%RoNW 33.8%
• Post-issue P/E under 40P/E 38.1
• Price to book under 6P/B 14.1
• Majority is fresh capital0% fresh issue
• Promoters keep at least half88.0% held post-issue
• Anchor investors participatedAnchor book placed
• Overall book more than 10× covered41.7× overall
• Lead manager above segment medianKotak Mahindra Capital Co.Ltd.: 97 past issues, +18% avg vs +9% segment median

4 further checks could not be judged, because the issue did not disclose enough. They count neither for nor against.