SBI to sell stake in SBI Funds Management Ltd in its IPO

SBI Funds Management Limited ("SBIFML"), a subsidiary company of State Bank of India, has filed a draft red herring prospectus dated March 19, 2026, with the Securities and Exchange Board of India for an initial public offering of up to 203,709,239 equity shares of face value of Rs. 1 (one) each ("Equity Shares"), representing up to 10.0013% of its paid-up equity share capital for cash ("IPO"). The IPO comprises an offer for sale of up to 128,334,397 Equity Shares (amounting to 6.3007% of the paid-up equity share capital of SBIFML) by State Bank of India, and of up to 75,374,842 Equity Shares (amounting to 3.7006% of the paid-up equity share capital of SBIFML) by Amundi India Holding. The IPO remains subject to receipt of regulatory approvals, market conditions and other considerations.

State Bank of India is seeking to offer for sale up to 6.3007% of the paid-up equity share capital of SBIFML held by it pursuant to the IPO, as intimated pursuant to the letter no. CC/S&B/AND/2025-26/584 dated November 6, 2025 referred herein above. In light of increase in the equity share capital of SBIFML due to issuance of bonus shares and exercise of ESOPs by eligible employees, the number of Equity Shares being offered for sale by State Bank of India has been revised from up to 3,20,60,000 Equity Shares (amounting to 6.3007% of the paid-up equity share capital of SBIFML as on November 6, 2025) to up to 12,83,34,397 Equity Shares (amounting to 6.3007% of the paid-up equity share capital of SBIFML as on date).

Shares of State Bank of India was last trading in BSE at Rs. 1048.95 as compared to the previous close of Rs. 1069.50. The total number of shares traded during the day was 1041758 in over 34999 trades.

The stock hit an intraday high of Rs. 1059.95 and intraday low of 1041.05. The net turnover during the day was Rs. 1093783891.00.

Source : Equity Bulls

Keywords

StateBankofIndia INE062A01020 SBI SBIFundsManagement IPO DRHP FundRaising OFS