SBI Offloads 4.89% Stake in SBI Funds Management IPO

The State Bank of India (SBI) is selling a part of its stake in SBI Funds Management through an Initial Public Offering (IPO).

SBI will receive Rs 5,711 crore from selling 4.89% of its shares.

The IPO is an offer for sale, meaning the money goes to the shareholders selling their shares, not to the company itself.

SBI's joint venture partner, Amundi India Holding, is also selling some of its shares.

The total amount raised from the IPO will be nearly Rs 9,813 crore.

The IPO is priced at Rs 574 per share, with a discount for employees.

The expected date for the allotment of shares is July 20, 2026.

SBI Funds Management reported a total income of Rs 4,969.09 crore for the fiscal year 2026.