New Delhi, July 14 -- The initial public offering (IPO) of State Bank of India's (SBI) subsidiary, SBI Funds Management Ltd, opened for public subscription on Tuesday, aiming to raise nearly Rs.10,000 crore from the primary market.

SBI Funds Management IPO price band is set at Rs.545 - Rs.574 per share, and the IPO lot size is 26 shares. The mainboard issue will remain open for subscription until July 16.

The IPO is entirely an Offer for Sale (OFS) of over 20.37 crore equity shares by the company's promoters - State Bank of India (SBI) and Amundi India Holding.

Under the OFS, SBI is selling up to 12.83 crore equity shares, representing a 6.3% stake in SBI Funds Management, while Amundi India Holding is offloading up to 7.54 crore share...