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

SBI Funds Management shares rose 6.9% in their July 21 debut after a $1.03 billion IPO priced at ₹574 — the upper band. Bids reached $31 billion, about 30× the issue size, ranking it India's fourth-most-bid IPO ever. The modest pop signals the upper-band price already captured most of that demand premium.