SBI Funds Management IPO Review & Recommendations

To be updated upon finalization of the Price Band.

1. Return on net worth is computed as ratio of consolidated profit after tax attributable to the equity shareholders of our Company for the year ended March 31, 2026 to average net worth of year ended March 31, 2026. Average Net Worth represents the simple average of net worth as at the last day of the relevant fiscal year and as of the last day of the preceding fiscal year.
2. Net worth includes share capital and reserve and surplus.
3. Net asset value per equity share is computed as ratio of net worth to total number of equity shares outstanding at the year ended March 31, 2026
4. P/E ratio for the peers are computed based on closing market price as on July 6, 2026 at NSE, divided by diluted EPS (on consolidated basis) based on the audited financial results of the company for the year ended March 31, 2026.

*Notes for listed peers:

1. Sources for listed peers information are based on the audited financial results of the company for the year ended March 31, 2026.
2. The bonus issue has been retrospectively adjusted in the calculation of earnings per share.
3. All the financial information for listed industry peers mentioned above is on consolidated basis wherever applicable and is sourced from the audited financial results of respective companies for the year ended March 31, 2026.
4. Basic and Diluted EPS reported for HDFC Asset Management Company Limited takes into consideration the allotment of bonus equity shares as on November 26, 2025.
5. Basic and Diluted EPS reported for ICICI Prudential Asset Management Company Limited takes into consideration the allotment of bonus equity shares as on November 05, 2025.
6. NAV reported for HDFC Asset Management Company Limited takes into consideration the allotment of bonus equity shares as on November 26, 2025.
7. NAV reported for ICICI Prudential Asset Management Company Limited takes into consideration the allotment of bonus equity shares as on November 05, 2025