Mumbai, July 9 -- In what is set to be the biggest D-street launch so far this year, SBI Funds Management Ltd filed its red herring prospectus late on Wednesday for an initial public offering worth up to Rs.11,693 crore.

The price band for the equity shares is set at Rs.545-574 a share, an announcement in local newspapers showed. Prior to the price band announcement, SBI Funds shares traded at approximately Rs.830 apiece in the unlisted market.

The asset manager, a subsidiary of State Bank of India (SBI), will open its public issue for subscription on 14 July. At the upper end of the price band, the company will command a market capitalization of nearly Rs.1.17 trillion.

The IPO will consist entirely of an offer for sale by its promote...