State Bank of India and its joint venture partner Amundi backed, SBI Funds Management has filed draft papers with the capital market regulator, the Securities and Exchange Board of India on March 19 for an initial public offering (IPO).
The proposed IPO will be entirely an offer-for-sale (OFS), involving 20.37 crore equity shares, equivalent to a 10% stake. There will be no fresh issuance of shares, meaning the company itself will not receive any proceeds from the offering.
Under the OFS, promoter State Bank of India plans to divest 12.83 crore shares (6.3% stake), while Amundi India Holding will offload 7.53 crore shares (3.7% stake).
The IPO is being managed by a consortium of leading investment banks, including Kotak Mahindra Capital Company, 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.
Currently, SBI holds a 61.76% stake in the asset management firm, while Amundi India Holding owns 36.26%. Established in 1992, SBI Funds Management has been the market leader since March 2021, commanding a mutual fund market share of 15.4%. The company became a joint venture in 2004 when Société Générale Asset Management acquired a 37% stake, which was later taken over by Amundi through its Indian subsidiary in 2011.
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On the financial front, the company has delivered strong growth. For the nine months ended December 31, 2025, net profit rose 25.9% year-on-year to ₹2,432.9 crore, while revenue increased 23% to ₹3,250.6 crore. For the full fiscal year 2025, profit climbed 22.5% to ₹2,540.2 crore, and revenue surged 33.7% to ₹3,597.8 crore compared to the previous year.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Mar 20, 2026, 9:31 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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