SBI Funds Management is planning to raise about $1.2 billion through an initial public offering (IPO), said a Bloomberg report. The report adds that the SBI subsidiary could launch its IPO in the first half of 2026.
The report says that the SBI Funds Management IPO could be valued at $12 billion. Furthermore, the report adds that the company is planning to contact banks in the coming weeks for pitches for a mandate on the planned IPO.
SBI to offload stake
Earlier, on November 6, the State Bank of India announced that it is selling a 6.3 per cent stake in SBI Funds Management’s IPO. The bank stated that it will divest 3.206 crore shares of SBI Funds Management in the IPO.
SBI Funds Management, a joint venture between SBI and French fund management firm Amundi, oversees mutual funds and investment portfolios for retail and institutional investors. The State Bank of India, the largest bank in the country, currently holds a 61.90 per cent stake in SBIFML.
AMUNDI Asset Management hold a 36.36 per cent stake in SBI Funds Management. SBI said that AMUNDI India is also selling 3.7 per cent of its stake in SBIFML, representing 1,88,30,000 equity shares
