Overview
- SBI’s Executive Committee approved selling 3.206 crore shares, equal to a 6.3% stake, via the IPO of SBI Funds Management.
- Amundi India will offer 18,830,000 shares, representing a 3.7% stake, alongside SBI’s sale.
- SBI and Amundi have formally initiated the offering, which remains subject to regulatory approvals.
- SBIFML is India’s largest asset manager with a 15.55% market share, a quarterly average AUM of ₹11.99 trillion, and ₹16.32 trillion in AUM at the September quarter end.
- SBI holds 61.90% and booked ₹4,230.92 crore in FY25 income from the unit, which would become its third listed subsidiary after SBI Cards and SBI Life.