SBI, Amundi to divest 10% in SBIFML via IPO

STATE Bank of India (SBI) is divesting 3,20,60,000 equity shares, equivalent to 6.3007% of total equity capital of SBI Funds Management Limited (SBIFML) through Initial Public Offering (IPO).

- ENS ECONOMIC BUREAU @ New Delhi

Amundi India Holding, the other promoter of SBIFML will divest 1,88,30,000 equity shares, being equivalent to 3.7006% of total equity capital of SBIFML, with a total of 10.0013% stake comprising of 5,08,90,000 shares to be listed. Both the promoters of SBIFML have jointly initiated the IPO, which will likely be completed in 2026. At present, SBI and Amundi India Holding hold 61.91% and 36.36% stake in SBIFML respectively.