SBI to list mutual fund business on stock exchange via IPO
2 min readState Bank of India, the nation’s largest lender, intends to offload a 6% stake (equivalent to 3.20 crore shares) in subsidiary SBI Fund Management through an Initial Public Offering.
Amundi India Holding, the co-promoter of SBIFML, will reduce its ownership by selling a 3.70% stake comprising 1.88 crore equity shares.
The joint share sale by SBIFML’s promoters through an IPO is expected to conclude within the current calendar year.
SBI Mutual Fund, established in 1987 with SBI as primary sponsor, holds distinction as India’s first non-UTI mutual fund entity.
SBI Funds Management became operational in 1992 as SBI’s wholly-owned subsidiary, functioning as investment manager for SBI Mutual Fund’s multi-asset portfolio solutions.
SBI currently maintains 62% ownership in SBIFML, while Amundi India Holding controls 36% of the asset management company.
Commanding 15.55% market share, SBIFML leads India’s asset management sector with Quarterly Average Assets Under Management of ₹11.99 trillion across mutual fund schemes, complemented by ₹16.32 trillion in alternative assets as of September.
Chairman Challa Sreenivasulu Setty confirmed the mutual fund subsidiary will become SBI’s third listed entity following SBI Cards and SBI Life Insurance.
Setty emphasized the IPO will enhance shareholder value while expanding market accessibility and product visibility among retail and institutional investors.
Published on November 6, 2025
