IPO
SBI Funds Management gets Sebi’s nod for IPO
SBI Funds Management has received approval from the Securities and Exchange Board of India to launch an initial public offering (IPO). The issue is expected to be launched in early July.The company, which operates as a joint venture between State Bank of India and France-based Amundi, functions as a mutual fund house. The IPO will be an offer for sale of 20.37 crore equity shares by existing shareholders State Bank of India and Amundi India Holding, representing approximately 10% of the firm's paid-up equity share capital.The book-running lead managers to the transaction include Kotak Mahindra Capital, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets, ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors, and SBI Capital Markets.
For FY25, SBI Funds Management had reported about INR 4,051 Cr in Operating Income and about INR 2,531 Cr in PAT.
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