New Delhi, July 30 (IANS) Recently listed asset management company SBI Funds Management saw its shares slip below the initial public offering (IPO) price on Thursday, extending losses just over a week after its stock market debut.
The stock fell as much as 1.93 per cent to an intraday low of Rs 565 on the BSE.
From its listing price of Rs 610 on the exchange, the stock has declined more than 7 per cent. It is also nearly 10 per cent below its 52-week high of Rs 625.
The shares had also slipped below the IPO price in the previous trading session before recovering to close at Rs 576.05.
Since listing earlier in July, the stock has declined in six of the seven trading sessions, indicating sustained selling pressure after its initial gains.
SBI Funds Management had made a positive market debut, listing at Rs 613.30 on the NSE, a premium of 6.85 per cent over the IPO price, and at Rs 610 on the BSE, up 6.27 per cent.
The Rs 9,812.91-crore public issue was priced in the range of Rs 545-574 per share and received a strong response from investors, with the issue being subscribed 41.66 times during July 14-16.
However, the recent decline has wiped out the listing gains, pushing the stock below its issue price and leaving investors who subscribed at the upper end of the price band under water.
Established in 1987, SBI Funds Management is India’s largest asset management company by quarterly average assets under management (QAAUM).
As of March 31, 2026, it managed mutual fund assets worth Rs 12.51 lakh crore, accounting for a 15.3 per cent share of the domestic mutual fund industry.
The stock settled at Rs 570.45 on the BSE on Thursday, down 0.99 per cent from the previous close.
–IANS
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