State Bank of India (SBIN) has provided an update regarding the Initial Public Offering (IPO) of its subsidiary, SBI Funds Management Limited (SBIFM). Initially, there was an incorrect statement regarding the Bid/Offer Period for Qualified Institutional Buyers (QIBs) closing one Working Day prior to the Closing Date. The correct closure date for the Bid/Offer Period for QIBs is Thursday, July 16, 2026, which is the Bid/Offer Closing Date. SBIFM has fixed the price band for the Offer at ₹545 to ₹574 per equity share of face value ₹1 each. Eligible employees will receive a discount of ₹54 per equity share, as detailed in the Red Herring Prospectus (RHP). The minimum bid lot has been set at 26 equity shares and multiples thereof.
