7 months ago
SBI Funds Management Plans 2026 IPO
SBI Funds Management, which manages a lot of money in India, is planning to go public in 2026.
This means they will sell a part of their company to the public to raise about $1.4 billion.
The company is owned by State Bank of India (SBI) and Amundi India, who will sell some of their shares.
Several banks were chosen to help with this process, but some big banks like Citi and JP Morgan decided not to join because the fees offered were very low.
The IPO is expected to value the company at around $14 billion.
SBI Funds Management is the largest asset manager in India, with a market share of 15.55% and assets worth Rs 16.32 trillion.
SBI Funds Management plans to list publicly in the first half of 2026, aiming to raise $1.4 billion.
State Bank of India (SBI) and Amundi India will sell 6.3% and 3.7% of their stakes, respectively.
Nine banks, including Kotak Mahindra Capital and ICICI Securities, have been appointed to advise on the IPO.
SBI Funds Management is India's largest asset manager with a market share of 15.55% and assets worth Rs 16.32 trillion.
The IPO is expected to value the company at about $14 billion, subject to ongoing discussions and regulatory approvals.
- Who
- SBI Funds Management, State Bank of India, Amundi India, Citi, JP Morgan, Kotak Mahindra Capital, Axis Bank, SBI Capital Markets, Motilal Oswal, ICICI Securities, JM Financial, Jefferies, HSBC, Bank of America
- What
- Planned Initial Public Offering (IPO)
- Where
- India
- When
- First half of 2026
- Why
- To raise funds and reduce promoter holdings
Key facts
- Company
- SBI Funds Management
- Expected IPO Date
- First half of 2026
- Expected Fundraising
- $1.4 billion
- Expected Valuation
- $14 billion
- Stake Sale by SBI
- 6.3%
- Stake Sale by Amundi
- 3.7%
- Assets Under Management
- Rs 16.32 trillion
- Market Share
- 15.55%
- Advisory Banks
- Kotak Mahindra Capital, Axis Bank, SBI Capital Markets, Motilal Oswal, ICICI Securities, JM Financial, Jefferies, HSBC, Bank of America
- Fees Offered
- 0.01% of issue size
Quotes
Dhirendra Kumar
CEO of Value Research
“ICICI Prudential is already the market leader in any meaningful competitive sense. If you set aside SBI’s “privileged” AUM of roughly Rs 3.43 lakh crore in Nifty and Sensex ETFs, much of which comes from EPFO rather than regular market competition, ICICI’s leadership has been built the hard way – through performance, product discipline, and steady execution across categories.”
financialexpress.com
Gaurav Jani
Financials analyst at PL Capital
“ICICI Pru AMC may eventually command a premium to HDFC AMC due to better distribution and diversification.”
financialexpress.com
Nimesh Shah
CEO of ICICI Prudential AMC
“Out of 10 new AMCs that have come only two and three have grown because they gave superb performance.”
financialexpress.com
Sources
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