India’s biggest asset management firm is heading for the public markets. SBI Funds Management Ltd. is preparing to launch an initial public offering worth between $1.2 billion and $1.5 billion, with the listing expected to kick off during the week of July 13, 2026.
The deal would value SBI Funds Management at roughly $12.3 billion, or about 1,17,000 crore rupees.
How the deal is structured
The entire IPO is structured as an offer-for-sale, meaning existing shareholders are cashing out a portion of their holdings rather than injecting fresh capital into the business.
The two sellers are State Bank of India, which currently holds a 61.76% stake, and France’s Amundi Group, which owns 36.26%. Together, they plan to offload roughly a 10% stake in the company, amounting to approximately 20.37 crore shares.
