SBI Mutual Fund IPO Opens July 14, SBI And Amundi To Sell 10% Stake Through Offer For Sale
SBI Mutual Fund will launch its IPO on July 14, with subscriptions closing on July 16. State Bank of India and partner Amundi will together sell a 10 percent stake through an offer for sale. The country's largest mutual fund house will announce its price band on July 9.
(L-R)- Mr. Kaushal Shah, MD, Head- ECM, Kotak Mahindra Capital Company; Mr. Srinivas Jain, Executive President; Mr. Denys De Campigneulles, Deputy CEO; Mr. Debasish Mishra, MD & CEO; D.P. Singh, Joint CEO, SBI Funds Management Ltd; Amrendra Singh, Head, ECM, SBI Capital Markets and Aman Puri, MD, Jefferies India at the IPO press conference of SBI Funds Management Limited in Mumbai. |
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 Details
The 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.
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 House
SBI 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.
Financial Position
According 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.
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