SBI, Amundi to Divest 10% in SBI Funds Management via IPO

Mumbai, November 7: The State Bank of India and French-owned Amundi India Holding have announced that they will be selling a 10% equity stake in SBI Funds Management through an initial public offer. As per the announcement, SBI will sell 6.3% stake, while Amundi will sell 3.7% of its stake in SBI Funds Management Ltd (SBIFML). Once the process is complete, the shares of SBI Funds Management Ltd (SBIFML) will list on stock exchanges. Currently, SBI holds 61.91% stake, and Amundi India holds a 36.36% stake in SBIFML.

Largest Asset Management Company

SBI Funds Management Ltd (SBIFML) is currently the largest asset management company in India. It has a market share of 15.55%. It manages quarterly average assets under management (QAAUM for Q2FY26) of ₹11.99 lakh crore under various schemes of SBI Mutual Funds. Its has AUM of ₹16.32 lakh crore under alternates as on September 30, 2025.

What Did the Management Say?

“SBIFML will be the third subsidiary of SBI to be listed after SBI Cards and SBI Life Insurance. Considering SBIFML’s sustained strong performance and market leadership over the years, it is considered an opportune time to launch the IPO process,” said SBI Chairman Challa Sreenivasulu Setty.

“Apart from maximising value realisation for the existing stakeholders, the IPO will create opportunities for the general shareholders, broaden market participation and lead to increased awareness of products to a wider set of potential investors. This will further enhance the public visibility of the company, thereby reinforcing its position as a leading player in the asset management industry,” Setty said.

“SBIFML has grown successfully, leveraging on the powerful distribution capacity of SBI’s network in India, combined with Amundi’s global expertise in asset management. This IPO will unlock the value jointly created by SBI and Amundi, which will continue their successful long-term partnership in a fast-growing Indian market that presents significant development potential,” said Amundi CEO Valérie Baudson.

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