Morningstar

State Bank of India to Launch IPO for Mutual Fund Arm

Provided by Dow Jones

By Kimberley Kao 




  State Bank of India plans to sell a 6.3% stake in its mutual fund arm through an initial public offering. 



  State Bank of India, one of the country's largest lenders, plans to sell 32.1 million shares in SBI Funds Management, a joint venture with Amundi, according to an exchange filing. 



  Meanwhile, Amundi India will divest 18.8 million shares, equivalent to a 3.7% stake in SBI Funds Management, according to the filing. 



  The IPO framework agreement is expected to be executed Nov. 10, with the share sale likely to be completed in 2026. 



  "Apart from maximizing value realization for the existing stakeholders, the IPO will create opportunities for the general shareholders, broaden market participation and lead to increased awareness of products to a wider set of potential investors," said SBI Chairman Challa Sreenivasulu Setty. 





  Write to Kimberley Kao at kimberley.kao@wsj.com 





  (END) Dow Jones Newswires



  November 06, 2025 03:57 ET (08:57 GMT)


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