SBI Funds Management Set to Launch IPO with Price Band and RHP Filing in Early July SBI Funds Management, India’s largest asset management company, is poised to proceed with its initial public offering (IPO) after receiving regulatory approval. The Securities and Exchange Board of India (SEBI) granted clearance for the company’s draft red herring prospectus (DRHP) on June 12, 2026. Industry sources indicate that the firm is expected to file its final red herring prospectus and announce the IPO price band during the first week of July. This move marks a significant step in the company’s journey toward public listing, which would make it the third subsidiary of State Bank of India (SBI) to go public. The IPO is structured as a 10% offer-for-sale, with no fresh shares being issued. Promoters, including SBI and Amundi India Holding, will collectively offload 20.37 crore equity shares. Specifically, SBI, which holds a 61.76% stake in SBI Funds Management, plans to sell 12.83 crore shares (6.3% stake), while Amundi India Holding, owner of 36.26% of the company, will divest 7.53 crore shares (3.7% stake). The offer-for-sale mechanism means the IPO will not involve raising new capital but will instead facilitate the exit of existing shareholders. SBI Funds Management, established in 1992, has been a dominant player in the mutual fund market since March 2021, with a market share of 15.4%. The company was formed as a joint venture in 2004 after Societe Generale Asset Management SA acquired a 37% stake, which was later acquired by Amundi Asset Management through its subsidiary Amundi India Holding in 2011.#state_bank_of_india #securities_and_exchange_board_of_india #sbi_funds_management #amundi_india_holding #sbi_funds_management_ipo
