SBI Funds Management CEO, chairman and board of directors

NSE: SBIFUNDSBSE: 544829Capital Markets

SBI Funds Management Limited · Face value ₹1 · Listed Jul 2026 · Issue price ₹574
Last close ₹468.50up ₹6.45 (1.40%)BSE ₹468.35

Share price at the NSE close on 29 Oct 2026. Previous close ₹462.05.

29 Oct: open ₹462.05, high ₹470.30, low ₹460.80

Range of traded prices from listing on 21 Jul 2026 to 29 Oct 2026
₹433.65Low, 26 Oct 2026₹624.95High, 21 Jul 2026
Market cap
₹95,425 Cr
P/E
No full year
P/B
12.63
Dividend yield
Nonesince listing in Jul 2026
Debt to equity
0.00
Volume, NSE
6,42,75260.2% delivered

SBI Funds Management's chairperson is Challa Sreenivasulu Setty, its managing director and CEO Debasish Mishra and its chief executive Denys Charles Jean Marie Fougeroux De, as filed for the quarter to Sep 2026.

SBI Funds Management board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonChalla Sreenivasulu SettyRelated to the promoter
  • Managing director and CEODebasish Mishra
  • Chief executiveDenys Charles Jean Marie Fougeroux De
  • Company Secretary and Compliance OfficerMs. Vinaya Datar

10 directors5 independent2 executive3 non-executive

  • Challa Sreenivasulu Setty · ChairpersonNon-executive · joined Nov 2024 · 4 listed boards · 2 committee seats
  • Ashwini Kumar TewariNon-executive · joined Jan 2024 · 4 listed boards · 5 committee seats
  • Olivier Philippe MarieeNon-executive · joined Jan 2024 · 1 listed board
  • Sudha KrishnanIndependent · joined Jun 2021 · reappointed Jun 2024 · 63 months as independent · 3 listed boards · 3 as independent · 5 committee seats, 1 as chair
  • Shekhar BhatnagarIndependent · joined Mar 2022 · reappointed Mar 2024 · 54 months as independent · 1 listed board · 1 as independent
  • Hemant Ratnakar AdarkarIndependent · joined Aug 2025 · reappointed Aug 2025 · 13 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 1 as chair
  • Sanjay PrakashIndependent · joined Oct 2025 · reappointed Oct 2025 · 11 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Giridhar SanjeeviIndependent · joined Sep 2026 · reappointed Sep 2026 · 0 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 2 as chair
  • Debasish Mishra · Managing director and CEOExecutive · joined Jul 2026 · 1 listed board · 2 committee seats
  • Denys Charles Jean Marie Fougeroux De · Chief executiveExecutive · joined Feb 2026 · 1 listed board · 1 committee seat

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left
  • Moiz Mohsin Miyajiwala, left 28 Sep 2026: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 29 Sep 202610 of 10 present5 independent · 39 days in between
    • 20 Aug 202610 of 10 present5 independent · 16 days in between
    • 3 Aug 202610 of 10 present5 independent · 17 days in between
    • 16 Jul 202610 of 10 present5 independent · 2 days in between
    5 earlier meetings
    • 13 Jul 202610 of 10 present5 independent · 4 days in between
    • 8 Jul 20268 of 10 present3 independent · 14 days in between
    • 23 Jun 202610 of 10 present5 independent · 28 days in between
    • 25 May 20269 of 10 present5 independent · 27 days in between
    • 27 Apr 202610 of 10 present5 independent

  • Audit Committee

    Sanjay Prakash, Sudha Krishnan, Giridhar Sanjeevi

    • 28 Sep 20263 of 3 present3 independent · 38 days in between
    • 20 Aug 20263 of 3 present3 independent · 16 days in between
    • 3 Aug 20263 of 3 present3 independent · 25 days in between
    • 8 Jul 20263 of 3 present3 independent · 14 days in between
    3 earlier meetings
    • 23 Jun 20263 of 3 present3 independent · 28 days in between
    • 25 May 20263 of 3 present3 independent · 27 days in between
    • 27 Apr 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Shekhar Bhatnagar, Ashwini Kumar Tewari, Hemant Adarkar, Sanjay Prakash, Olivier Philippe Mariee, Giridhar Sanjeevi

    • 28 Sep 20266 of 6 present4 independent · 44 days in between
    • 14 Aug 20266 of 6 present4 independent · 52 days in between
    • 22 Jun 20266 of 6 present4 independent · 36 days in between
    • 16 May 20266 of 6 present4 independent

  • Stakeholders Relationship Committee

    Debasish Mishra, Denys Charles Jean Marie Fougeroux De, Sanjay Prakash, Giridhar Sanjeevi

    • 22 Jun 20264 of 4 present2 independent

  • Risk Management Committee

    Hemant Adarkar, Denys Charles Jean Marie Fougeroux De, Sanjay Prakash, Debasish Mishra, Giridhar Sanjeevi

    • 29 Jul 20265 of 5 present3 independent · 92 days in between
    • 27 Apr 20265 of 5 present3 independent

  • Corporate Social Responsibility Committee

    Chair Sudha Krishnan

    Hemant Adarkar, Debasish Mishra, Denys Charles Jean Marie Fougeroux De, Shekhar Bhatnagar

    • 20 Aug 20265 of 5 present3 independent · 107 days in between
    • 4 May 20265 of 5 present3 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

SBI Funds Management AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.

Postal ballot, 6 Sep 2026

14,05,861 shareholders on the register on 3 Aug 2026; votes counted by Mr. Bhaskar Upadhyay / M/s. N.L. Bhatia & Associates.The company's voting result

  1. Ratification of the SBI Funds Management Limited Employees’ Stock Option Plan 2018 (The “Esop 2018 / Plan”).
    Special
    97.57% for2.43% against

    Against: promoters 0.00% · institutions 63.43% · other public 45.42%

    Turnout: all 91.81% · promoters 100.00% · institutions 58.69% · other public 5.79%

  2. Ratification of the Extension of Benefits under The SBI Funds Management Limited Employees’ Stock Option Plan 2018 (The “Esop 2018/Plan”) to the Employees of Subsidiary Companies.
    Special
    97.57% for2.43% against

    Against: promoters 0.00% · institutions 63.43% · other public 45.47%

    Turnout: all 91.81% · promoters 100.00% · institutions 58.69% · other public 5.79%

  3. Appointment of M/S. N L Bhatia & Associates, Practicing Company Secretaries as the Secretarial Auditor and Payment of their remuneration.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.39%

    Turnout: all 91.81% · promoters 100.00% · institutions 58.69% · other public 5.79%

  4. Adoption of amended Articles of Association of the Company for granting Special Rights to certain Shareholders of the Company pursuant to Waiver Cum Amendment Agreement and Licensing Agreement.
    Special
    98.20% for1.80% against

    Against: promoters 0.00% · institutions 50.77% · other public 0.77%

    Turnout: all 91.81% · promoters 100.00% · institutions 58.69% · other public 5.79%

  5. Grant of Special Rights pursuant to Governance Agreement dated March 19, 2026.
    Special
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 10.65% · other public 0.69%

    Turnout: all 91.81% · promoters 100.00% · institutions 58.69% · other public 5.79%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 6 Sep 2026, 23 fund houses

  • Ratification of the SBI Funds Management Limited Employees’ Stock Option Plan 2018 (The “Esop 2018 / Plan”).
    Against Aditya Birla Sun Life Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Helios Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, quant Mutual Fund, Shriram Mutual Fund, The Wealth Company Mutual Fund, UTI Mutual Fund
    • Aditya Birla Sun Life Mutual Fund, UTI Mutual FundThe SBI ESOP 2018 scheme has an outstanding option pool of 9,214,080 (including expired/lapsed options), as on 30 June 2026. The scheme will result in overall dilution of ~0.4% on the expanded capital base as on 30 June 2026. The vesting of stock options is time based, with vesting to occur between one to six years from the grant date. The exercise price will be determined by the Nomination and Remuneration Committee. It is unclear whether the stock options will be granted at or close to market price. Given the lack of disclosure on exercise price, we are unable to support the resolution.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Helios Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, Shriram Mutual Fund, The Wealth Company Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: The Company has not disclosed the Exercise Price / Pricing Formula. Governance and Transparency Concern: Maximum Potential economic benefits to a single employee appears to be disproportionate and excessive. The scheme provides three categories of vesting period and exercise period would also vary basis the vesting period, such that the employees with highest vesting period would have lowest exercise period, which is against the principals of good governance. The Company has not provided any justification for multiple categories of options under single scheme.
    • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because the scheme permits stock options to be issued with an exercise price at a deep discount to the market price as on grant date and the vesting is not performance based.
    • HDFC Mutual FundUnder the SBI ESOP 2018 scheme the exercise price will be determined by the Nomination and Remuneration Committee. It is unclear whether the stock options will be granted at or close to market price. Given the lack of disclosure on exercise price, we do not support the resolution.
    • ICICI Prudential Mutual FundIt is unclear whether the stock options will be granted at or close to market price. Given the lack of disclosure on exercise price, the AMC has voted against the resolution.
    • Kotak Mahindra Mutual FundThe SBI ESOP 2018 scheme has an outstanding option pool of 9,214,080 (including expired/lapsed options), as on 30 June 2026. The scheme will result in overall dilution of ~0.4% on the expanded capital base as on 30 June 2026. The vesting of stock options is time based, with vesting to occur between one to six years from the grant date. The vesting period of 3, 4 and 5 years will be based on the functional role, criticality of role, seniority of employee / grantee and employee long-term retention plan. Per management, the differential vesting schedule will be applied objectively. On the exercise price of the ESOPs, it will be determined by the Nomination and Remuneration Committee. While the management highlighted that the ESOPs will be granted at the fair value, the company will be free to determine the exercise price subject to conforming to the accounting policies specified in regulation 15 of the SEBI SBEB Regulations. Given the lack of disclosure on exercise price, we are unable to support the resolution.
    • quant Mutual FundNon-disclosure of the exercise price or pricing formula.
    7 for16 against
  • Ratification of the Extension of Benefits under The SBI Funds Management Limited Employees’ Stock Option Plan 2018 (The “Esop 2018/Plan”) to the Employees of Subsidiary Companies.
    Against Aditya Birla Sun Life Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Helios Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, quant Mutual Fund, Shriram Mutual Fund, The Wealth Company Mutual Fund, UTI Mutual Fund
    • Aditya Birla Sun Life Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, UTI Mutual FundThrough resolution #2, the company seeks shareholder approval for extending the benefits of SBI ESOP 2018 to employees of subsidiary companies. Our view on this resolution is linked to our view on resolution #1. We do not support the resolution.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Helios Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, Shriram Mutual Fund, The Wealth Company Mutual FundNo concern identified w.r.t. the proposed extension per-se, however, proposal is interlinked with Resolution #1.
    • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because the scheme permits stock options to be issued with an exercise price at a deep discount to the market price as on grant date and the vesting is not performance based.
    • ICICI Prudential Mutual FundThe AMC's view on this resolution is linked to the view on resolution #1.Hence, the AMC has voted against the resolution.
    • quant Mutual FundNon-disclosure of the exercise price or pricing formula.
    7 for16 against
  • Appointment of M/S. N L Bhatia & Associates, Practicing Company Secretaries as the Secretarial Auditor and Payment of their remuneration.
    23 for0 against
  • Adoption of amended Articles of Association of the Company for granting Special Rights to certain Shareholders of the Company pursuant to Waiver Cum Amendment Agreement and Licensing Agreement.
    Against Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Helios Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, quant Mutual Fund, Shriram Mutual Fund, The Wealth Company Mutual Fund
    • Aditya Birla Sun Life Mutual Fund, Axis Mutual FundUnder the WAA dated 19 March 2026 among SBI Funds Management Limited, SBI, AIH/Amundi Entities and Crédit Agricole, the AoA is proposed to be amended to grant SBI the right to nominate three directors, always including the MD & CEO and a Board Chairperson with a casting vote. AIH may nominate two directors (one always the Deputy CEO) at a fully diluted holding of 20% or more, or one director between 10% and 20%. Both the MD & CEO and the Deputy CEO will be permanent Audit Committee invitees; SBI's committee-nomination right carries no shareholding threshold, while AIH's requires at least 10%. Board quorum will require a nominee of each to be present.The amended AoA will also incorporate the Company's obligations under the Licensing Agreement dated 29 March 2012 (supplemented 2024), granting a royalty-bearing right to use the "SBI" name/marks, at the higher of 0.20% of total income or 2.00% of PAT, terminable by SBI for non-payment or its holding falling below 26%. We note that the licensing arrangement is consistent with SBI’s arrangement with other group entities.We expect board nomination rights to be linked to a minimum shareholding threshold of at least 10%: SBI’s board nomination rights are not linked to a shareholding threshold. In addition, we believe committee composition is a prerogative of the board. Further, we do not support quorum rights for meetings. We are unable to support the resolution.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Helios Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, Shriram Mutual Fund, The Wealth Company Mutual FundCompliant with law. Transparency Concern: Amended AoA not disclosed / cannot be located. Governance and Transparency Concern: Nomination rights to SBI appears excessive and there is no sunset or fall-away clause for SBI nominations. Rights to appoint or nominate directors on the Committees is not considered as good governance.
    • Franklin Templeton Mutual Fund, HSBC Mutual FundA vote AGAINST this resolution is warranted because the amended AoA is not disclosed in the public domain, thereby preventing independent assessment of the special rights.
    • HDFC Mutual FundUnder the WAA dated 19 March 2026 among SBI Funds Management Limited, SBI, AIH/Amundi Entities and Crédit Agricole, the AoA is proposed to be amended to grant SBI the right to nominate three directors, always including the MD & CEO and a Board Chairperson with a casting vote. AIH may nominate two directors (one always the Deputy CEO) at a fully diluted holding of 20% or more, or one director between 10% and 20%. Both the MD & CEO and the Deputy CEO will be permanent Audit Committee invitees; SBI's committee-nomination right carries no shareholding threshold, while AIH's requires at least 10%. Board quorum will require a nominee of each to be present. The amended AoA will also incorporate the Company's obligations under the Licensing Agreement dated 29 March 2012 (supplemented 2024), granting a royalty-bearing right to use the "SBI" name/marks, at the higher of 0.20% of total income or 2.00% of PAT, terminable by SBI for non-payment or its holding falling below 26%. We note that the licensing arrangement is consistent with SBI’s arrangement with other group entities. We do not support board nomination rights which are not linked to a minimum shareholding threshold of at least 10%: SBI’s board nomination rights are not linked to a shareholding threshold. We do not support the resolution.
    • quant Mutual FundCompliant with the law. Governance and Transparency Concern: Nomination rights to SBI appears excessive and there is no sunset or fall-away clause for SBI nominations. Rights to appoint or nominate directors on the Committees is not considered as good governance.
    9 for15 against
  • Grant of Special Rights pursuant to Governance Agreement dated March 19, 2026.
    Against Edelweiss Mutual Fund, Groww Mutual Fund, Helios Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, quant Mutual Fund, Shriram Mutual Fund, The Wealth Company Mutual Fund
    • Edelweiss Mutual Fund, Groww Mutual Fund, Helios Mutual Fund, Invesco Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, Shriram Mutual Fund, The Wealth Company Mutual FundCompliant with law. Governance & Transparency Concern: Special rights proposed to promoters without any sunset / fall-away clause and certain special rights undermines the roles of Board / NRC.
    • quant Mutual FundCompliant with the law. Governance and Transparency Concern: Nomination rights to SBI appears excessive and there is no sunset or fall-away clause for SBI nominations. Rights to appoint or nominate directors on the Committees is not considered as good governance.
    14 for9 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Fines and tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Fine or penaltyDistrict Consumer Disputes Redressal Commission, SolapurSince 23 Sep 2026

    The Commission has ordered the Company to refund the commission amount and pay compensation of Rs.10,000 and litigation cost of Rs.5,000.

    Allegation of deficiency of service arising from routing a direct plan investment through a distributor. The Company maintains that the investment was received through a distributor, and accordingly, the investment application form was processed under the regular plan.MoreLess
  • Tax disputeDirectorate General of GST Intelligence, Mumbai Zonal Unit (DGGI)Since 31 Jul 2024
    Pending at GST Appellate Tribunal

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved
3028Sep 26

Open at the quarter's end

2Sep 26
At most 2 complaints open, quarter to Sep 2026.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
Yes
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

The company's results filing for the quarter to Sep 2026 says no statement of how money raised was used applies to it.