SBI Funds Management Ltd (SBIFML), India’s largest asset management company, is reportedly preparing for a major public listing that could raise up to ₹10,000 crore in the first half of 2026, according to a Bloomberg report.
The deliberations are said to be in the early stages, with State Bank of India (SBI) and French asset manager Amundi — the joint promoters — planning to sell a combined 10% stake through the proposed initial public offering (IPO). The company is expected to invite proposals from investment banks in the coming weeks to manage the transaction.
If executed, the IPO could value SBI Funds at around $12 billion (₹1 lakh crore), placing it among the biggest domestic listings anticipated next year. The exact structure of the offering — including the mix of fresh issue and offer-for-sale, anchor investor participation, and pricing — will be finalised once bankers complete the valuation process.
The potential listing comes as India’s IPO market continues to see strong activity, with over $18 billion raised in 2025 through domestic share sales. Large financial sector IPOs such as Tata Capital’s ₹14,000 crore issue have found robust investor demand, making market conditions favourable for well-established institutions like SBI Funds.
Industry observers say the fund house’s size, profitability, and state-backed ownership make it a strong candidate for a successful public offering — provided market sentiment and regulatory clearances align.
SBI currently holds a 61.9% stake in SBI Funds Management, while Amundi owns about 36.4%. The proposed sale would marginally reduce their holdings but still leave both promoters with a controlling interest.
Given its scale and track record, SBI Funds is widely regarded as one of India’s most trusted asset managers, with a growing retail investor base and a diversified portfolio across equity, debt, and hybrid schemes.
Sources quoted in the report emphasised that discussions are still preliminary, and the timing could shift depending on market conditions, regulatory clearances, and internal approvals. The asset manager plans to undertake a fresh valuation exercise and may adjust its fundraising targets as market dynamics evolve.
If finalised, the offering would join a strong pipeline of financial sector IPOs expected in 2026, reinforcing India’s position as one of the most active equity markets globally.
