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SBI Funds reduces IPO size to Rs 9,813 crore after pre-offer placement. Will it impact listing gains?

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SBI Funds reduces IPO size to Rs 9,813 crore after pre-offer placement. Will it impact listing gains?
SBI Funds Management has reduced the size of its IPO to Rs 9,813 crore from Rs 11,693 crore after raising about Rs 1,655 crore through a pre-IPO placement to 30 anchor investors. The issue will open for subscription on July 14 and close on July 16. The IPO is entirely an offer-for-sale (OFS) by State Bank of India and Amundi India Holding. Since there is no fresh issue, SBI Funds Management will not receive any proceeds from the IPO.

The pre-IPO placement was completed at Rs 574 per share, the upper end of the IPO price band. State Bank of India sold 28,832,748 equity shares, representing 1.42% of SBI Funds Management’s pre-IPO equity capital. According to SBI’s exchange filing, the bank signed the share purchase agreements on July 9. The transaction was scheduled to be completed by July 10.

PI Opportunities Fund-II was the largest buyer, acquiring 3,484,320 shares for about Rs 200 crore. Investor Akash Bhanshali also bought 3,484,320 shares for nearly Rs 200 crore, while 3P India Equity Fund I purchased 2,613,240 shares worth about Rs 150 crore.

Other investors in the pre-IPO placement included Malabar India Fund, Tata AIG General Insurance Company, Go Digit General Insurance, Anand Rathi Global Finance, Clarus Capital I, Carnelian Bharat Amritkaal Fund and Bennett Coleman & Co Ltd, along with other institutional and family office investors.

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Also Read: SBI Funds among 6 IPOs on investors’ radar this week. GMPs indicate listing gains up to 118%



What does this mean?


The company is still not raising fresh capital because the IPO remains a pure OFS. The money goes to the selling shareholders, not to SBI Funds Management. For investors, the key signal is that large investors were willing to buy shares before the IPO at the top end of the price band, which gives some comfort on demand and valuation.

The smaller issue size can help bidding to some extent because fewer shares will now be available in the public offer. If demand stays strong, the reduced supply can improve subscription numbers, especially in institutional and HNI categories. It may also support sentiment around listing gains, helped by the current grey market premium of about 15%.

However, the impact should not be overstated. SBI Funds Management is still a large IPO, and listing performance will depend on overall market mood, subscription strength, valuation comfort and demand for AMC stocks. The pre-IPO placement is positive for confidence, but it does not change the basic nature of the offer, which remains an OFS by existing shareholders.

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SBI Funds IPO GMP

The shares are proposed to be listed on the BSE and NSE on July 21. The grey market premium stood at around 15%, indicating investor interest ahead of the issue opening.

The company has fixed a price band of Rs 545-574 per share. Investors can bid for a minimum of 26 shares and in multiples thereafter. At the upper end of the price band, one retail lot will cost Rs 14,924.

About SBI Funds Management

SBI Funds Management is India’s largest asset management company. It manages SBI Mutual Fund and is a joint venture between State Bank of India and Amundi. The company offers equity funds, debt funds, hybrid schemes, ETFs, index funds, PMS and other investment products.

The company had quarterly average assets under management of about Rs 12.5 lakh crore and a market share of around 15%. It benefits from SBI’s banking network, mutual fund distributor reach, strong SIP franchise and Amundi’s global investment and technology capabilities.

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For FY26, SBI Funds Management reported total income of Rs 4,976 crore, up 17% from Rs 4,236 crore in FY25. Profit after tax rose 21% to Rs 3,067 crore from Rs 2,540 crore. Return on net worth stood at 43.02%.

SBI Funds IPO valuation

At the upper price band, the IPO values SBI Funds Management at around 38 times FY26 earnings. Analysts have said the valuation is lower than several listed AMC peers, though the OFS structure means the company will not receive growth capital from the issue.

With the issue size now lower and institutional investors already coming in at the top end of the price band, the focus will shift to subscription demand when the IPO opens. Investors will also track grey market movement to assess possible listing gains.

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WA truckers, farmers raise concern over proposed trailer safety device

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WA truckers, farmers raise concern over proposed trailer safety device

WA’s trucking and agricultural sectors argue the proposed mandating of a new safety device is misguided, instead calling for better driver training and design regulations.

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BHP leads Australian shares higher as retail sells off

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BHP leads Australian shares higher as retail sells off

Australia’s share market has pared early gains for a modest advance, despite BHP counterbalancing an underwhelming day for the bourse.

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Air France-KLM: A Stronger Q2 Is Not Enough To Change The Equity Story

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Air France-KLM: A Stronger Q2 Is Not Enough To Change The Equity Story

Air France-KLM: A Stronger Q2 Is Not Enough To Change The Equity Story

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Melco Resorts & Entertainment: The Worst Is Behind Us

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Melco Resorts & Entertainment: The Worst Is Behind Us

Melco Resorts & Entertainment: The Worst Is Behind Us

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Groww shares gain 8% on strong Q1 earnings, net profit jumps 94% to Rs 735 crore

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Groww shares gain 8% on strong Q1 earnings, net profit jumps 94% to Rs 735 crore
Shares of Billionbrains Garage Ventures, the parent company of broking platform Groww, surged nearly 8% to an intraday high of Rs 219 on the BSE after the company reported strong Q1 FY27 earnings. The company posted a consolidated net profit of Rs 735 crore for the quarter, up 94.44% from Rs 378 crore in the corresponding quarter last year.

EBITDA for the quarter under review came in at Rs 971 crore, up 101% from Rs 483 crore in the year ago period. Sequentially, the increase was relatively modest, up 3% from Rs Rs 939 crore, Groww’s investor presentation showed.

Also Read | Landmark Cars shares rally upto 13% post Q1 business update, revenue jumps over 22%

Groww’s revenue from operations also witnessed a sharp uptick, rising 66% to Rs 1,504 crore from Rs 904 crore in the corresponding quarter of the previous financial year. Net profit for the quarter grew by 7% to Rs 735 crore from Rs 686 crore last year.

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The company said that the consolidated total income grew 63.3% year-on-year in the June quarter, driven by continued traction in newer products such as MTF and commodity derivatives.


In the stock broking business, the company said that risk control measures led to its retail ADTO market share easing sequentially to 15.1%, although it remained 3.3 percentage points higher year-on-year. In commodity derivatives, it expanded its retail market share to 28.6% in notional ADTO across MCX and NSE.
In mutual funds, it retained its position as India’s largest distribution platform for direct mutual funds, with Rs 1.9 lakh crore in direct mutual fund assets under management (AUM). SIP inflows grew 32% year-on-year, outpacing the industry’s 16% growth.The company said it remains focused on leveraging AI across the organisation and now offers an AI-powered mutual fund advisory product ‘MF Prime’, for users who want additional guidance to manage their MF portfolio.

The company added that while it plans to make significant investments in AI, it does not expect these investments to have a material impact on its margins given its scale.

The company said it strengthened its market leadership across key segments during the June quarter by adding 115,000 net clients, supported by higher customer retention and improved product quality despite an industry-wide slowdown.

Also Read | Bitcoin climbs to $64,700 as softer US inflation eases US Fed rate hike concerns

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At present, the company has 4,35,000 commodity derivatives active users on Groww platform which is up 10.7% on QoQ basis, implying an attach rate of 2.6% in overall active users.

In the current calendar year so far, the stock went up 36.11% and in the last six months, it gained 28.74%.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Indonesia stocks higher at close of trade; IDX Composite Index up 0.12%

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Indonesia stocks higher at close of trade; IDX Composite Index up 0.12%

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Talented Stars Driving Global Interest in the Women’s Game

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Alisha Lehmann

Women’s soccer continues its rapid rise in popularity in 2026, with players blending exceptional on-field talent, leadership and growing public profiles that draw fans across continents. As leagues like the NWSL and Europe’s top divisions expand media deals and attendance, several athletes stand out for their performances and ability to connect with audiences beyond the pitch.

Discussions around prominent figures often highlight a mix of established stars and emerging talents whose skills, marketability and social media presence amplify the sport’s appeal. Rankings that focus on popularity remain subjective, reflecting fan engagement, endorsements and cultural impact alongside athletic achievements. No major senior international tournament anchors the calendar this year, shifting attention to club campaigns and individual honors such as the Ballon d’Or Féminin race.

Barcelona continues to dominate conversations, while NWSL clubs secure record contracts that underscore the league’s growing stature. Here are 10 players frequently cited in conversations about the sport’s most visible and influential figures this season.

Alisha Lehmann of Aston Villa and the Switzerland national team tops many fan-driven lists for her dynamic playing style and substantial online following. The forward has built a global audience through skillful dribbling and energetic presence, amassing millions of social media followers and securing brand partnerships. Her profile illustrates how on-pitch flair combined with off-field visibility helps grow interest in women’s soccer.

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Alexia Putellas remains a central figure at Barcelona after overcoming earlier injury challenges. The Spanish midfielder and two-time Ballon d’Or winner posted strong numbers in the 2025/26 campaign, contributing goals and assists while helping her club secure major domestic and European titles. Putellas’ return to elite form has positioned her as a leading contender for the 2026 Ballon d’Or Féminin, with observers noting her leadership and technical quality.

Aitana Bonmatí, also of Barcelona and Spain, enters the year as a three-time Ballon d’Or Féminin winner despite an injury-disrupted 2025/26 season. The midfielder’s vision, work rate and consistency have set benchmarks in recent years. Her representatives have highlighted the connection between performance and market value. “Aitana is the highest-paid female footballer in the world and has the best contract in history because she is the best female footballer in the world, and that has a lot to do with her performance and contribution on the pitch,” said Cristian Martin, CEO of WOM Sports Management, in comments reported earlier this year.

Claudia Pina has emerged as one of Barcelona’s most clinical forwards during the 2025/26 season. The Spanish attacker recorded high goal tallies and assists, drawing attention for her finishing ability and role in the team’s success across competitions. Her rapid development has made her a focal point in discussions about the next generation of stars.

Ewa Pajor continues to deliver prolific scoring form at Barcelona. The Polish forward’s goal output in league and European play has kept her among the most dangerous attackers in women’s soccer. Pajor’s consistency helps drive Barcelona’s attacking identity and contributes to the club’s sustained dominance.

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Khadija Shaw of Manchester City and Jamaica maintains her reputation as a reliable goal threat. The forward’s performances in the Women’s Super League and on the international stage have earned consistent recognition. Shaw’s blend of power and finishing ability makes her a key reference point when assessing top strikers.

Alessia Russo has become a central figure at Arsenal and for the England national team. The forward’s contributions in the Women’s Super League and UEFA competitions, including important goals in high-stakes matches, have elevated her profile. Russo’s movement and finishing add a clinical edge to Arsenal’s attack.

Trinity Rodman of the Washington Spirit and the United States national team represents the NWSL’s rising commercial appeal. The forward secured a significant new contract reflecting the league’s progress in player compensation. Rodman’s speed, creativity and visibility have helped position her among the most recognizable young talents in the game.

Sophia Smith remains a cornerstone of the U.S. women’s national team attack. The forward’s pace and goal-scoring threat have been central to club and country performances. Her profile benefits from the broader spotlight on American players in a league that continues to attract investment and attention.

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Caroline Graham Hansen of Barcelona and Norway adds width and creativity from the flanks. The winger’s dribbling, crossing and goal contributions have been vital to Barcelona’s success. Hansen’s technical quality and experience make her a consistent presence in conversations about elite European players.

These athletes reflect broader trends in 2026. Record transfers and contracts in the NWSL, including deals for players like Catarina Macario, signal increasing professionalization. Barcelona’s continued success across fronts keeps Spanish players prominent in individual award discussions. Social media engagement amplifies reach, allowing fans worldwide to follow careers in real time and turning matches into shared cultural moments.

The absence of a major tournament this summer has focused attention on domestic leagues and the ongoing Ballon d’Or Féminin campaign, scheduled for October. Voters weigh club performances heavily in a year without Euros or World Cup action. Barcelona’s quartet of Putellas, Bonmatí, Pina and Pajor features prominently in early speculation.

Growth metrics tell a positive story. Attendance figures in top leagues have risen steadily, supported by better broadcasting and marketing. Players with strong personal brands help attract casual viewers who then discover the quality of play. Endorsements and media appearances further embed women’s soccer in mainstream culture.

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Challenges remain, including fixture congestion, injury management and the need for continued investment in grassroots development. Yet the visibility of these athletes contributes to momentum. Young fans see role models who combine elite performance with approachability through digital platforms.

As the 2026 club season progresses toward its conclusion and the Ballon d’Or ceremony approaches, attention will stay on how these players and their peers shape the next chapter. Their stories—marked by resilience, skill and expanding influence—illustrate why women’s soccer commands growing audiences and why individual profiles matter as much as team results.

The sport’s trajectory depends on sustained excellence on the pitch paired with smart off-field engagement. Players who excel in both areas help ensure the gains of recent years continue. In 2026, that combination appears stronger than ever across multiple leagues and national teams.

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Farnborough Airshow 2026 Finance Summit draws 600 investors

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Farnborough Airshow 2026 Finance Summit draws 600 investors

More than 600 senior investors from around 350 firms, including Goldman Sachs, Blackstone and the Qatar Investment Authority, will descend on Hampshire this month for a new Finance Summit at the Farnborough International Airshow, and for once the guest list is not reserved for the primes.

The Aerospace Global Forum: Finance Summit, launching at this year’s show, is designed to connect global capital with opportunities across aerospace, defence, space, cyber and enabling technologies, from the industry’s biggest names down to emerging start-ups.

For UK founders and scale-ups in the sector, that matters. The programme puts sovereign wealth funds, private equity houses, venture capital firms, hedge funds and M&A specialists in the same halls as the businesses hunting for growth capital, at a show where the 2024 edition generated at least £13 billion in deals for the UK.

Senior representatives are expected from Goldman Sachs, J.P. Morgan, Citigroup, Barclays, HSBC, Deutsche Bank, UBS, Blackstone, Carlyle, Warburg Pincus, Mubadala, the Qatar Investment Authority, Temasek International and Tikehau Capital, among others.

British institutions are on the list too, including the British Business Bank, the London Stock Exchange and UK Export Finance, the government’s export credit agency, a signal that the summit is as much about backing domestic suppliers as courting overseas money.

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Gareth Rogers, CEO of Farnborough International, said: “Finance and investment have always been underlying themes of the airshow, but we wanted to give it emphasis to support the industry as it accelerates. The launch of the Finance Summit is our response to the growing demand from investors seeking direct access to high-quality market insight, business development opportunities and emerging innovation across aerospace, defence and space.”

The timing is hard to fault. UK aerospace, defence, security and space industries contribute more than £42 billion a year to the economy, according to ADS Group figures, and ministers have been working to pull smaller defence suppliers deeper into the MoD’s supply chain through a dedicated growth unit. Capital, in short, is looking for a home in exactly the sectors where British SMEs are strongest.

Attendees have identified the conference programme, market trends, new business partnerships, existing partner engagement and visibility of new projects as their key reasons for coming, according to the organisers.

The summit will run keynote sessions, panel discussions, roundtables and dedicated networking as part of the wider Aerospace Global Forum, with the stated aim of connecting investors, banks and consultancies with organisations ranging from global primes to emerging start-ups.

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For a smaller business, the calculation is straightforward. Investor meetings of this calibre usually mean a trip to Mayfair or Manhattan and a warm introduction. For one week this summer, the capital comes to Farnborough instead, at what organisers expect to be the biggest show in the event’s history.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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At Close of Business podcast July 15 2026

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At Close of Business podcast July 15 2026

Sam Jones and Isabel Vieira discuss the bi-annual corporate finance feature.

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Maine Democrats, rattled by Platner’s downfall, protest fatal ICE shooting

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