India's largest asset management company, SBI Funds, saw a 6.2% gain on its market debut, bringing its market capitalization close to $13 billion.

BlockBeats News, July 22. According to Bitget market data, India's largest asset management company, SBI Funds Management, was listed in Mumbai on July 21. The first-day closing price rose by 6.2% to 609.75 rupees, with a market value of 1.24 trillion rupees, approximately $12.89 billion, becoming India's second-largest listed fund management company, second only to ICICI Prudential Asset Management.

SBI's IPO this time raised $1.03 billion, making it the largest IPO in India this year. Last week, it attracted about $31 billion in subscriptions, with cornerstone investors including BlackRock and sovereign wealth funds from Singapore, Abu Dhabi, and Norway, with a total investment of approximately $2.785 billion. SBI Funds is a joint venture between India's largest bank, State Bank of India, and Europe's largest asset management company, Amundi, managing assets worth 12.5 trillion rupees as of March 2026.