SBI Funds Management Files Draft Red Herring Prospectus for IPO of Up to 10% Stake
Mumbai, March 19, 2026: SBI Funds Management Limited (SBIFML), a subsidiary of State Bank of India (BSE: 500112, NSE: SBIN), has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of up to 203,709,239 equity shares, representing 10.0013% of its paid-up share capital.
The IPO will include:
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State Bank of India offering up to 128,334,397 shares (6.3007% of SBIFML’s paid-up capital)
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Amundi India Holding offering up to 75,374,842 shares (3.7006% of SBIFML’s paid-up capital)
The IPO is subject to regulatory approvals, market conditions, and other factors.
This move follows earlier communications regarding the stake sale, updating the number of shares due to an increase in SBIFML’s equity capital from bonus shares issuance and ESOP exercises. The revised number of shares offered by SBI has increased from 32,060,000 to 128,334,397, maintaining the proportionate stake of 6.3007%.
DGM (Compliance & Company Secretary) Aruna N. Dak highlighted that the IPO represents a strategic step for SBIFML to enhance its capital market presence while providing liquidity for existing shareholders.
This update is important for investors and market watchers as it marks a significant public offering in India’s asset management sector, with SBI and Amundi India partially divesting their stakes.
About SBI Funds Management Limited:
SBIFML is a leading Indian asset management company and a wholly-owned subsidiary of State Bank of India, providing mutual fund and investment services across diverse asset classes.
Contact:
State Bank of India, Listing Department – BSE & NSE, Mumbai, India