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India’s largest bank moves to list its mutual-fund arm with 10 % stake sale
SBI and Amundi plan to divest 10% of SBI Funds Management via IPO in 2026, tapping India’s IPO surge.
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.