Mumbai [Maharashtra] (India), July 21 (ANI): Shares of SBI Funds Management made their stock market debut on NSE and BSE on Tuesday listing nearly at 7 per cent premium over the IPO price following the close of its Rs 11,692 crore IPO. SBI Chairman Challa Sreenivasulu Setty called the IPO largest issue so far in 2026.

The stock listed at Rs 613.30 on the NSE -- a premium of Rs 39.30, or 6.85 per cent -- over the issue price of Rs 574 per share. On the BSE, the stock debuted at Rs 610, up Rs 36, or 6.27 per cent. Following its listing, the company's total market cap stood at Rs 1,25,397.29 crore, as per BSE.

Addressing the listing ceremony, SBI Chairman Challa Sreenivasulu Setty said the event marked more than just the stock market debut of a successful enterprise and provided an opportunity to reflect on the institution-building journey that has created India's largest asset management company.

He further added, 'It is also an occasion to acknowledge how India's financial system has evolved over the last seven decades.' 'Capital markets do not merely allocate capital, they democratize wealth creation, channel household savings into productive investment, and create long-term economic resilience,' he added.

He further added, SBI Funds Management has retained its leadership position through investment resilience, prudent risk management, strong governance, continuous innovation and a wide distribution network, supported by the confidence of millions of investors.

Setty noted that the Indian mutual fund industry, which managed assets of around Rs 6,700 crore in 1988, has now grown to more than Rs 80 lakh crore, highlighting 'SBI Funds Management manages nearly 15 per cent of them.'

Commenting on the IPO, Setty said the issue received an exceptional response.

He said, 'The IPO witnessed...exceptional response, being subscribed nearly 42 times, with the QIB portion subscribed approximately 140 times.'

Stressing that the IPO has been the largest in 2026 so far, he said, 'This offering sends a powerful message about the resilience of India's national markets, the credibility of our institutions, and the confidence that investors across the world continue to place on India.' (ANI)