SBI Fund Management IPO to open on July 14; SBI to sell 6.3% stake through OFS

The country’s biggest lender, State Bank of India (SBI), on Wednesday (July 8) said its subsidiary, SBI Funds Management Ltd (SBIFM), has filed the red herring prospectus (RHP) with the Registrar of Companies, Mumbai, for its proposed initial public offering (IPO).

The IPO comprises an offer for sale (OFS) of up to 20.37 crore equity shares, representing up to 10.0013% of SBI Funds Management’s paid-up equity share capital.

As part of the offer, SBI will sell up to 12.83 crore equity shares, equivalent to a 6.3007% stake in SBI Funds Management, while Amundi India Holding will divest up to 7.54 crore equity shares, representing a 3.7006% stake.

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Anchor investors will bid on July 13. The IPO will open for public subscription on July 14 and close on July 16. The qualified institutional buyers (QIB) portion will close on July 15.

The IPO will be conducted through the book-building process and remains subject to regulatory approvals, market conditions and other considerations.

For FY26, SBI Funds Management reported total income of ₹4,969.09 crore, accounting for 0.70% of SBI Group’s total income. Its reserves and surplus stood at ₹3,533.09 crore, representing 0.59% of the SBI Group’s reserves and surplus.

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The company said allotment is expected on or about July 18, 2026. The price band and offer price will be determined in accordance with the SEBI ICDR Regulations and other applicable laws.

Shares of State Bank of India ended at ₹1,018.05, up by ₹19.75, or 1.90%, on the BSE.