IPO
SBI sells 1.42% stake in SBI Funds Management for Rs.1,655-Cr
State Bank of India (SBI) has sold a 1.42% stake in its asset management arm, SBI Funds Management , to 30 investors for Rs.1,655-Cr in a pre-IPO placement round. The shares were sold at Rs.574 per share, which corresponds to the upper end of the price band for the company’s upcoming initial public offering.SBI Funds Management, the asset management subsidiary of SBI, is preparing for an initial public offering valued at INR 11,600-Cr, which is scheduled to open on July 14, 2026, and conclude on July 16, 2026. The offering is structured as an Offer for Sale by the promoters, SBI and Amundi India Holding.The investors participating in the pre-IPO placement include 360 ONE, Tata AIG General Insurance Company, Go Digit General Insurance, Bennett Coleman, Anand Rathi Global Finance, Capri Global Ventures, and Carnelian Bharat Amritkaal Fund. The sale involved the transfer of 28,832,748 equity shares.
For FY25, SBI Funds Management had reported about INR 4,063 Cr in Operating Income and about INR 2,540 Cr in PAT.
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