Archive · 22 Jul 2026
SBI Funds Management shares fall 4% on second trading day
SBI Funds Management, a company that manages a lot of money through different investment schemes, recently had its shares start trading on the stock market.
On the first day, the shares were more expensive than expected, but they didn't end up as high as they started.
The next day, the shares dropped by 4%.
Even though many people wanted to buy the shares when they first became available, the market seems to be adjusting the price.
The company manages a huge amount of money, about Rs 12.5 lakh crore, across many different investment options.
The money from the sale of these shares goes to the State Bank of India, which is the largest bank in the country.
SBI Funds Management shares fell 4% to Rs 585.30 on the second trading day.
The shares listed at a 7% premium but closed lower on the first day.
The IPO was subscribed 41.66 times, with strong demand from institutional investors.
SBI Funds Management manages Rs 12.5 lakh crore across 120+ schemes.
The IPO proceeds of Rs 5,711 crore go entirely to SBI as an offer for sale.
- Who
- State Bank of India (SBI) and investors
- What
- SBI Funds Management shares fell 4% on the second trading day
- When
- July 22, 2023
- Where
- National Stock Exchange (NSE)
- Why
- Market correction after a strong IPO performance
Investor Optimism
Market Correction
Initial Listing
Investor Optimism
The shares listed at a premium of 7%, indicating strong initial investor interest.
Market Correction
The shares closed lower on the first day of trading, suggesting early signs of market correction.
Subscription Demand
Investor Optimism
The IPO was subscribed 41.66 times, with strong demand from Qualified Institutional Buyers (140.11 times).
Market Correction
Despite high subscription, the shares fell 4% on the second trading day, indicating potential overvaluation concerns.
- Listing Price
- Rs 574 per share
- Listing Premium
- 7%
- First Day Close
- Rs 610.15
- Second Day Low
- Rs 585.30
- Total AUM
- Rs 12.5 lakh crore
- Number of Schemes
- 120+
- IPO Proceeds
- Rs 5,711 crore
- Shares Sold
- 99.5 million