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SBI Funds Management Files for IPO Set to Open July 14
Summary
SBI Funds Management, India's largest asset manager, has filed for an initial public offering scheduled to open for public subscription on July 14. The offering consists of a 10% stake sale by its joint venture partners, State Bank of India and Amundi India Holding.
State Bank of India announced that its asset management joint venture, SBI Funds Management, has filed a red herring prospectus for an initial public offering. The public subscription period for the share sale is scheduled to open on July 14 and close on July 16. Bidding for anchor investors will take place one day prior, on July 13.
The IPO consists of an offer to sell up to 203.7 million shares, which represents approximately 10% of the company's paid-up equity capital. State Bank of India will offer up to 128.3 million shares, while its partner, Amundi India Holding, will divest up to 75.4 million shares. The price band for the offering is expected to be announced separately.
According to its prospectus, SBI Funds Management is India's largest asset manager, with assets under management totaling 12.5 trillion rupees ($131.4 billion) as of the end of March 2026. The offering has reportedly attracted interest from sovereign wealth funds, including the Abu Dhabi Investment Authority and GIC.
AdThe share sale is anticipated to be a major part of a busy second half for public offerings in the region. Other large companies, including Reliance Jio and the National Stock Exchange of India, are also expected to launch offerings later in the year.