SBI Funds Management Prepares for Mega IPO, Valuation Pegged at $12 Billion

Overview

State Bank of India and French asset manager Amundi are gearing up for the Initial Public Offering (IPO) of SBI Funds Management, India's largest asset manager. Sources indicate the IPO's valuation is around $12 billion. The companies are appointing investment bankers and plan to file draft documents with SEBI between January and March 2026. SBI aims to divest 6.3% stake, while Amundi will sell 3.7%.