SBI, Amundi to raise ₹13,000cr via SBI Mutual stake sale
SBI and Amundi are set to sell a combined 10% stake in SBI Funds Management through an IPO expected in early 2026.
The sale—6.3% from SBI and 3.7% from Amundi—aims to raise ₹11,000-₹13,000 crore (about $1.2 billion), possibly pushing the company's valuation past ₹1 trillion ($12 billion), depending on market conditions.
Massive mutual fund business with over ₹28 trillion in AUM
SBI Funds Management, started in 1992, is one of India's biggest asset managers with over a 15.5% share of the mutual fund space and ₹28.31 trillion in assets as of September 2025.
Jointly owned by SBI (61.9%) and Amundi (36.4%), it serves a broad range of investors, including individuals and institutions, and will become SBI's third listed subsidiary after SBI Cards and SBI Life Insurance.
SBI's capital strength will improve further
The company is already valued around ₹1.3 trillion on unlisted markets, showing strong investor interest ahead of the IPO.
This move will boost SBI's capital strength (already solid at a 14.62% ratio last September) and comes as India's stock markets are seeing record fundraising—nearly $18 billion so far this year alone—highlighting growing confidence in financial brands like SBI Funds Management.