India, July 20 -- India's largest initial public offering (IPO) of 2026 has drawn attention not only for its size but also for the unusually low fees paid to investment bankers. SBI Funds Management, which raised Rs.9,813 crore through its IPO, is estimated to pay just about $479,000 (around Rs.4.1 crore) in total fees to a syndicate of nine investment banks. The fee works out to roughly 0.04% of the issue size, making it one of the lowest underwriting fee structures seen in a major Indian public offering.

The IPO attracted strong investor demand, with bids worth several times the shares on offer. Market experts said the low fees reflect the prestige associated with managing a high-profile public issue for India's largest mutual fund hou...