SBI to divest stake in funds management arm via IPO

State Bank of India (SBI) announced on November 6, 2025, that its executive committee of the central board approved the divestment of 32,060,000 equity shares in SBI Funds Management Limited (SBIFML), representing 6.3007% of its total equity capital, through an initial public offering (IPO). This strategic move also includes Amundi India Holding divesting 18,830,000 equity shares (3.7006%), resulting in a total of 50,890,000 shares being listed, with completion expected in 2026. The IPO framework agreement is anticipated to be executed by November 10, 2025.

SBIFML, the country's largest asset management company, reported a total income of INR 4,230.92 Cr and reserves and surplus of INR 5,108.56 Cr for FY 224-25. The divestment aims to maximize value for stakeholders, broaden market participation, and enhance the company's visibility as a leading player in the asset management industry.

In preparation for the IPO, SBI representatives will engage in multiple one-on-one and group meetings with institutional investors and analysts on November 11, 2025, facilitated by ICICI Securities. These interactions will disseminate information already available in the public domain.