SBI Funds Management, backed by State Bank of India and Amundi, is launching an IPO with a pure offer-for-sale of 20.37 crore shares at ₹1 each, raising no new capital.

SBI Funds Management files for IPO with no fresh issue

SBI Funds Management Limited (SBIFML), the asset management arm backed by State Bank of India and Amundi, is heading to the public markets with a pure offer-for-sale (OFS) issue, with no fresh capital being raised as part of the IPO.

According to its draft papers, the public issue comprises an OFS of up to 20.37 crore equity shares with a face value of ₹1 each.

This means the company itself will not receive any proceeds from the offering, and the entire amount raised will go to the existing shareholders who are partially exiting their investments.

The stake sale will be split between the two promoters. State Bank of India will offload up to 12.8 crore shares, while Amundi India Holding will sell up to 7.5 crore shares as part of the IPO.

Prior to the issue, the two shareholders collectively held a 98.02% stake in the company, with SBI owning 61.7% and Amundi holding a 36% stake. Besides this, on the day of filing DRHP, the Joint CEO, Devinder Pal Singh, also held 0.1% stake in the company.

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On the financial front, SBIFML has posted a steady growth trajectory. For the nine months ended December 31, 2025, the company reported revenue from operations of ₹3,250.6 crore and a profit of ₹2,432.9 crore.

This marks a notable increase from the corresponding period last year, when it posted revenue of ₹2,641.9 crore and a profit of ₹1,933.0 crore for the nine months ended December 31, 2024.