SBI Funds Management gets SEBI`s nod to raise funds via IPO
SBI Funds Management, the country's largest mutual fund, has received the Securities and Exchange Board of India’s (SEBI) approval to float the initial public offering (IPO) estimated to be worth Rs 13,000 crore. The proposed maiden public offering is entirely an offer for sale (OFS) of up to 20.37 crore equity shares, with no fresh issue component. The offering will see promoters, State Bank of India (SBI) and Amundi India Holding, pare their stakes.
Kotak Mahindra Capital, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, Motilal Oswal, Investment Advisors and SBI Capital Markets are the book-running lead managers to the issue.
SBI Funds Management is a joint venture between SBI and Paris-based Amundi, holding 61.98 per cent and 36.40 per cent stake, respectively. The company is the country's largest asset management firm, with a quarterly average assets under management (QAAUM) of nearly Rs 12.5 lakh crore as of December 2025.
