On 6 November 2025, State Bank of India (SBI) announced plans to sell a total of 10% of its mutual-fund subsidiary, SBI Funds Management (SBI FML) — 6.3% via SBI and 3.7% via French partner Amundi — through an initial public offering scheduled for 2026. The unit manages assets of around ₹1.20 lakh crore ($1.37 billion). This move is part of India’s strong IPO momentum, with over $10.5 billion already raised in the first nine months of 2025.