SBI Funds Management IPO closes with 42x subscription, led by strong QIB demand; GMP signals healthy listing

The SBI Funds Management IPO closed with a 41.7 times subscription, driven by strong demand from institutional buyers. The issue saw bids for 519 crore shares against 12.45 crore on offer. With a grey market premium of ₹95 per share, many investors expect a healthy listing for the company soon.