State Bank of India (SBI) and its French partner, Amundi India Holding, have announced plans to jointly divest a 10 percent equity stake in their mutual fund venture, SBI Funds Management Ltd (SBIFML), through an initial public offering (IPO).
The proposed divestment involves SBI selling 3.20 crore shares, representing 6.30 percent of SBIFML's total equity capital. Concurrently, Amundi India Holding will divest 1.88 crore equity shares, equivalent to 3.70 percent. This public listing, which is subject to necessary regulatory approvals, would position SBIFML as the third subsidiary of SBI to be listed on stock exchanges, following SBI Cards and SBI Life Insurance.
Currently, SBI holds a 61.91 percent stake in SBIFML, with Amundi India Holding possessing 36.36 percent. SBI established SBIFML in 1987 as the first non-UTI mutual fund in India, with SBI Funds Management incorporated in 1992 as a wholly owned subsidiary. Amundi acquired its stake through a joint venture formed in April 2011. Amundi's stated assets under management (AUM) are 2.267 trillion euros in 2025.
Source: https://indianexpress.com/article/business/sbi-mf-ipo-sbi-amundi-to-divest-10-mutual-fund-public-issue-10350046/