Amundi and State Bank of India announced that their joint venture SBI Funds Management Limited filed its Red Herring Prospectus on 8 July 2026 for its proposed initial public offering on the Indian stock exchanges. The IPO will offer up to 10% of SBIFM's outstanding equity shares, with SBI selling up to 6.3% and Amundi up to 3.7%, and no fresh shares will be issued. The price band has been fixed at INR 545 to INR 574 per equity share. The offering is scheduled to open for public subscription on 14 July 2026 and close on 16 July 2026, with anchor investor bidding on 13 July 2026 and a tentative listing date of 21 July 2026 on the BSE and the National Stock Exchange of India.
Amundi SAAmundi is selling 3.7% of its stake in SBIFM via the IPO, providing a partial exit and monetization of its investment.
State Bank of India GDRSBI is selling 6.3% of its stake in SBIFM via the IPO, which is a capital event but the impact on SBI is mixed (partial exit vs. potential future value).
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