SBI Mutual Fund has initiated the process for appointing merchant bankers and other service providers to facilitate the initial public offering (IPO). According to a PTI report, SBI Chairman C. S. Setty stated that the boards of the respective shareholders, including SBI and Amundi, as well as the board of SBI Funds Management Ltd (SBIFML), have approved a 12-month timeline.
“We are very seriously working on that, and in this timeline we should hit the market…we have started the process of identifying the merchant bankers and other service providers,” SBI Chairman said to PTI.
SBIFML is a joint venture between the State Bank of India and Paris-based Amundi, with stakes of 61.98 per cent and 36.40 per cent, respectively. The fund house managed assets of around Rs 12 lakh crore as of September 2025.
Stake sale in SBI Mutual Fund IPO
SBI Funds Management Ltd.’s two promoters plan to sell a combined 10% stake through a public offering.
Last month, SBI approved the offloading of 3,20,60,000 equity shares, equivalent to 6.30% of the total equity capital of SBIFML, through an IPO.
Amundi India Holding, the other promoter of SBIFML, will divest 1,88,30,000 equity shares, equivalent to 3.7006 per cent of SBIFML’s total equity capital, with a total stake of 10.0013 per cent comprising 5,08,90,000 shares to be listed.
SBI Mutual Fund business
SBIFML is the largest asset management company in the country, with a market share of 15.55 per cent, managing a Quarterly Average Assets Under Management of Rs 11.99 lakh crore across various SBI Mutual Funds schemes and an AUM of Rs 16.32 lakh crore under alternative funds as of September 30, 2025.
SBI Mutual Fund was established in 1987 with SBI as the sponsor and was the first non-UTI mutual fund in India.
In 1992, SBI Funds Management Limited was incorporated as a wholly owned subsidiary of SBI, serving as the Investment Manager for SBI Mutual Funds to provide investment solutions across various asset classes.
The total income of SBI Mutual Fund was Rs 4,230.92 crore in FY25, 0.64 per cent of the total income of SBI Group.
