SBI and Amundi Plan IPO for SBI Funds Management in 2026
State Bank of India and Amundi have announced their joint intention to take SBI Funds Management Private Limited public in 2026, subject to market conditions and necessary approvals.
Ownership and Market Presence
According to the press release, SBI Funds Management, established in 1992, is 61.9% owned by State Bank of India (SBI), 36.4% by Amundi, and 1.7% by employees. The company currently manages a total of 28.31 trillion INR, equivalent to 269 billion euros, representing a 15.5% market share in mutual funds in India.
Details of the IPO
The release specifies that at the time of the IPO, about 10% of SBI Funds Management's capital will be offered to the market, divided between 6.3% from SBI and 3.7% from Amundi. This operation will be the third listing of an SBI subsidiary, following SBI Cards and SBI Life Insurance.
Strategic Implications and Leadership Perspectives
According to Valérie Baudson, CEO of Amundi, the IPO will enhance the joint efforts of SBI and Amundi in developing SBI Funds Management. The Indian market is seen as having strong potential, and the move aims to strengthen the company's leadership position while offering new investment opportunities. Additionally, SBI's chairman, Shri Challa Sreenivasulu Setty, noted that this operation will increase the company's visibility and maximize value for current shareholders.
