SBI and Amundi to take asset management firm public
SBI and Amundi are taking SBI Funds Management Ltd (SBIFML) to the stock market in 2025.
SBI plans to sell a 6.3% stake (3.21 crore shares), while Amundi will offload 3.7% (1.88 crore shares).
The official agreement is set for November 10, pending regulatory nods.
SBIFML is India's largest asset manager
SBIFML, started in 1992, is India's biggest asset manager with a 15.5% market share.
As of September-end, it manages ₹11.99 trillion under mutual funds and ₹16.32 trillion under alternates and helps both everyday people and big institutions grow their money.
SBI will continue to own majority of the company
SBI owns about 62% of SBIFML and Amundi holds around 36%.
This will be SBI's third company to hit the stock market after its cards and insurance arms.
The money raised will go into digital upgrades, new products, and expanding into alternative assets—so expect more innovation from SBIFML soon.