SBI Funds Management jumps 6.9% on debut after $1.03B IPO draws $31B in bids

SBI Funds Management shares rose 6.9% in their July 21 market debut after a $1.03 billion IPO priced at ₹574 per share — the upper band. The offering drew $31 billion in bids, roughly 30× the issue size, making it India's fourth-most-bid IPO on record. The modest listing-day pop suggests pricing absorbed most of the demand premium.