Choice Institutional Equities said, “At the upper price band, the issue is valued at a P/QAAUM of 9.3% and a P/E of 38.1x (based on FY26 EPS of Rs. 15.1), indicating a fair valuation relative to peers. However, its scale provides significant operating leverage, reflected in the industry’s lowest cost-to-income ratio and lowest operating cost as a percentage of Quarterly Average Assets Under Management (QAAUM).”
» Read more about: SBI Funds Management IPO Live: GMP at 15% on Day 2; Issue booked 0.72x so far »