New Delhi, July 13 -- SBI Funds Management IPO opens for subscription on tomorrow (Tuesday, 14 July). SBI Funds Management is India's oldest asset management company and acts as the investment manager for SBI Mutual Fund, which began operations in June 1987 as the country's first mutual fund established outside the Unit Trust of India (UTI).

According to its draft papers, the company is also India's largest passive asset manager, managing Rs.3,99,953 crore in passive quarterly average assets under management (QAAUM) through its exchange-traded funds (ETFs) and index funds as of December 31, 2025. This translated into a 29.6% market share in the country's passive fund segment.

According to a Bloomberg report, global investment firms incl...