India’s Largest Asset Manager Files for IPO: Plans to Divest Over 6% Stake - Details Inside!

On Friday, Bank-of-india-100112">State Bank of India (SBI) share price jumped up to 3 per cent after SBI announced that its subsidiary SBI Fund Management Limited (SBIFML) has filed a draft red herring prospectus (DRHP) with SEBI to launch an initial public offering (IPO).

SBI Plans Partial Stake Sale in SBI Funds Management via IPO

SBI has announced that its subsidiary, SBI Funds Management Limited, has filed a draft red herring prospectus with the Securities and Exchange Board of India for an IPO. The proposed IPO comprises an offer for sale of up to 10 per cent of SBIFML’s paid-up equity share capital, including up to 6.3 per cent stake by SBI and up to 3.7 per cent by Amundi India Holding.

Additionally, SBI has revised the number of shares it plans to offer for sale to up to 12.83 crore equity shares, from the earlier proposed 3.20 crore shares, following an increase in SBIFML’s equity capital due to bonus share issuance and ESOP exercises. The IPO remains subject to regulatory approvals, market conditions, and other considerations.

About SBI Funds Management Limited

SBI Funds Management Limited (SBIFML) is the asset management arm of State Bank of India and operates as a joint venture with Amundi India Holding. The company is engaged in managing Mutual Fund schemes and providing portfolio management and advisory services to domestic and international investors.

For FY25, SBIFML reported a total income of Rs 4,230.92 crore, contributing around 0.64 per cent to the overall income of the SBI Group. The company also reported reserves and surplus of Rs 5,108.56 crore, accounting for approximately 1.19 per cent of the group’s total reserves.

SBI Share Price Performance

State Bank of India’s share price has shown mixed performance across different timeframes, declining 12.78 per cent over the past one month, while gaining 24.02 per cent in the last six months and delivering a return of 41.51 per cent on a one-year basis.

As of 3:10 PM on March 20, 2026, the share price of State Bank of India is trading at Rs 1,055, up 0.78 per cent for the day. During the session, the stock touched an Intraday high of Rs 1,085, reflecting a gain of 3.44 per cent. The stock has a 52-week high of Rs 1,234.70 recorded on February 24, 2026, and a 52-week low of Rs 730.00 recorded on April 7, 2025.

About State Bank of India

State Bank of India (SBI) is India’s largest public sector bank, offering a wide range of banking and financial services, including retail banking, corporate banking, treasury operations, and international banking. The bank has a strong domestic presence with an extensive branch network and also operates across multiple global markets.

Disclaimer: The article is for informational purposes only and not investment advice.