SBI Funds Management, a joint venture of State Bank of India and Amundi, is set to launch an initial public offering (IPO) of about $1.2 billion, attracting major sovereign wealth funds as anchor investors. The firm manages assets worth ₹12.5 trillion as of the end of March 2026, according to the reports. The IPO is expected to open next week, though details of pricing and the final offer size were not specified in the provided excerpts. The company’s listing plans are also described as part of a broader wave of fundraising activity in India in the second half of the year, with a “busy pipeline” of public offerings expected to follow. Overall, the coverage focuses on the scale of the IPO, the role of sovereign investors in supporting demand, and the company’s position in India’s asset management industry based on its reported assets under management. The reports do not indicate any change in the joint-venture structure or provide additional terms of the offering beyond timing and expected deal size.