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FinanceSBI sells 1.42% stake in SBI Funds Management for ₹1,655 crore ahead of IPO
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State Bank of India (SBI) has sold a 1.42% stake in its asset management arm, SBI Funds Management Ltd (SBIFM), to 30 investors for ₹1,655 crore in a pre-IPO placement round. The shares were sold at ₹574 each, the higher end of the IPO price band. The sale is part of preparations for SBIFM's ₹11,600-crore initial public offering, which will open on July 14 and close on July 16, 2026. The entire IPO is an Offer for Sale by promoters SBI and Amundi India Holding. Investors in the pre-IPO placement include 360 ONE funds, Tata AIG General Insurance, Go Digit General Insurance, Bennett Coleman, Anand Rathi Global Finance, Capri Global Ventures, and Carnelian Bharat Amritkaal Fund. The IPO is one of the largest in recent times, expected to be followed by mega issuances from NSE and Jio Platforms.
Source report
State Bank of India (SBI) has sold a 1.42% stake in its asset management arm, SBI Funds Management Ltd (SBIFM), to 30 investors for ₹1,655 crore in a pre-IPO placement round, the bank announced.
The stake was sold at ₹574 per share, which is also the higher end of the IPO price band, according to an exchange filing.
IPO Details
- Issue size: ₹11,600 crore
- Opening date: July 14, 2026
- Closing date: July 16, 2026
- Nature: Entirely an Offer for Sale (OFS) by promoters SBI and Amundi India Holding
Investors
The shares were sold to a range of investors, including:
- 360 ONE funds
- Tata AIG General Insurance Company
- Go Digit General Insurance
- Bennett Coleman
- Anand Rathi Global Finance
- Capri Global Ventures
- Carnelian Bharat Amritkaal Fund
Official Statement
In a filing on Thursday (July 9, 2026), SBI stated:
"State Bank of India has entered into share purchase agreements each dated July 9, 2026 to sell, in aggregate, 2,88,32,748 equity shares of SBIFM of face value ₹1 each being equivalent to 1.415% of pre-offer share capital of SBIFM, to a total of 30 investors at ₹574 per equity share, for an aggregate consideration of ₹1,655 crore."
The sale is part of the pre-IPO placement ahead of the proposed initial public offering of SBIFM, SBI's asset management arm.
Market Context
One of the largest IPOs in recent times, the offering is expected to be followed by mega issuances from the National Stock Exchange (NSE) and telecom operator Jio Platforms.
On Thursday, the management expressed confidence that within the next 3–4 days, several prominent names would be announced as investors in the company through the IPO.
Source
The Hindu: Latest News today from India and the World, Breaking news, Top Headlines and Trending News Videos.Regional
Part of this Story
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