State Bank of India’s asset-management subsidiary, SBI Funds Management Ltd, is set to open its initial public offering for public subscription on July 14 and close on July 16. Anchor investors can submit bids on July 13, while bids by qualified institutional buyers close on July 15. The price band is scheduled to be disclosed on July 9. The IPO is structured entirely as an offer for sale (OFS), meaning SBI Funds Management does not receive new funds; instead, existing shareholders reduce their stakes and proceeds go to the selling shareholders. SBI will sell about 12.83 crore equity shares (around 6.3% of paid-up equity), and Amundi India Holdings will sell about 7.54 crore equity shares (around 3.7%). Together, the two shareholders offload approximately 10% through the public issue. The basis of allotment is expected to be finalised after subscriptions close, with sources pointing to July 18. The company expects to be valued at up to about ₹1.17 lakh crore, with the offer representing up to roughly 10.0013% of paid-up equity capital. The deal remains subject to regulatory approvals and other customary conditions, including market factors.
SBI Funds Management IPO opens July 14; SBI and Amundi sell about 10% via offer for sale
State Bank of India’s asset-management subsidiary, SBI Funds Management Ltd, is set to open its initial public offering for public subscription on July 14 and close on July 16. Anchor investors can su...
- SBI Funds Management’s IPO opens for public subscription on July 14 and closes on July 16.
- Anchor investors bid on July 13; qualified institutional buyers bid until July 15.
- The IPO is entirely an offer for sale, so SBI Funds Management receives no proceeds.
- SBI sells about 12.83 crore shares (~6.3%) and Amundi India Holdings sells about 7.54 crore shares (~3.7%), totaling ~10%.
- The price band is expected to be announced on July 9; allotment basis is expected after the subscription period ends.
Mumbai: State Bank of India (SBI) has announced that the initial public offering (IPO) of its subsidiary, SBI Funds Management Ltd, will open for subscription on July 14. The public issue will remain open until July 16, while the bidding process for anchor investors will begin on July 13.The price band for the IPO will be announced on July 9. The issue is expected to be one of the biggest public offerings in India's asset management industry.Offer DetailsThe IPO is entirely an offer for sale (OFS), which means the company will not receive any fresh funds from the issue. Instead, existing shareholders will reduce their holdings by selling part of their stake. 2,500x Return: SBI's ₹2 Cr Investment In NSE To Fetch ₹5,000 Cr From Stake Sale State Bank of India will sell 12.83 crore equity shares, representing a 6.30 percent stake in SBI Funds Management. Its joint venture partner, France-based Amundi India Holdings, will sell 7.54 crore equity shares, accounting for a 3.70 percent stake.Together, the two shareholders will offload a total 10 percent stake through the public issue.The basis of allotment is expected to be finalised on July 18 after the subscription process is completed.India's Largest Fund HouseSBI Funds Management is India's largest mutual fund company by assets under management. It is a joint venture between State Bank of India and French asset management company Amundi SA.The company has built a strong presence across retail and institutional investors through a wide range of equity, debt and hybrid mutual fund schemes. SBI Targets Share Sale Worth ₹4,230.92 Crore Via SBIFML IPO March 2026Financial PositionAccording to SBI, SBI Funds Management reported an income of ₹4,969 crore in FY26. This contributed around 0.70 percent of the total income of the SBI Group during the financial year.The company also reported reserves and surplus of ₹3,533 crore, accounting for about 0.59 percent of the SBI Group's total reserves and surplus.The IPO will allow public investors to participate in the country's largest mutual fund business while enabling SBI and Amundi to partially monetise their investment through the offer for sale.
2 hours agoSBI Funds Management, a subsidiary of State Bank of India, has filed its red herring prospectus with the Registrar of Companies for its proposed initial public offering. The IPO will open for public subscription on July 14 and close on July 16. Anchor investors will be able to place bids on July 13, one working day before the issue opens. The bidding period for qualified institutional buyers will close on July 15, a day before the public issue closes.The IPO will be entirely an offer for sale of up to 20,37,09,239 equity shares of face value Rs 1 each and seeks to value the company at Rs 1.17 lakh crores. This represents up to 10.0013% of SBI Funds Management’s paid-up equity share capital.SBI will sell up to 12,83,34,397 shares through the offer, representing 6.3% of SBI Funds Management’s paid-up equity share capital. Amundi India Holding will sell up to 7,53,74,842 shares, representing 3.7% of the company’s paid-up equity share capital.Also Read: NSE eyes September launch for $3 billion IPO; marketing likely to begin next weekSince the issue is fully an offer for sale, SBI Funds Management will not receive any proceeds from the IPO. The money will go to the selling shareholders, SBI and Amundi India Holding.SBI had earlier informed the exchanges on March 19 that SBI Funds Management had filed its draft red herring prospectus. The latest filing of the red herring prospectus moves the IPO closer to launch, though the offer remains subject to regulatory approvals, market conditions and other considerations.SBI Funds Management IPO detailsSBI Funds Management is the investment manager of SBI Mutual Fund, one of India’s largest asset management businesses. The IPO is expected to be closely watched because of the scale of the mutual fund industry and SBI’s strong distribution reach across the country.The listing would also give investors a chance to own a business linked to India’s growing financial savings market. Mutual funds have seen strong inflows from retail investors in recent years, helped by rising systematic investment plans and wider participation from smaller cities.For SBI, the IPO will help partly monetise its stake in the asset management subsidiary. For Amundi India Holding, the offer will also provide a partial exit route.The key details investors will watch next are the price band, issue size in rupee terms, market capitalisation and valuation compared with other listed asset management companies. The final pricing will determine how the offer stacks up against peers in the asset management space.
21 hours ago
Gujarat launches data centre policy targeting ₹6 lakh crore investment and 7.5 GW capacity
Gujarat launches its first data centre policy in Gandhinagar, presented as a package of fiscal and non-fiscal incentives...
Blue Origin seeks $10 billion in first outside funding at $130 billion valuation
Blue Origin is seeking to raise $10 billion through its first outside private funding round to support its plans in laun...
SK Hynix’s US listing reportedly more than seven times oversubscribed
SK Hynix Inc.’s planned US listing is reportedly more than seven times oversubscribed, according to multiple sources fam...