SBI Funds Management IPO: SBI's Offer for Sale Revised

State Bank of India (SBI) has provided an update on the Initial Public Offering (IPO) of its subsidiary, SBI Funds Management Limited (SBIFM). An addendum to the Red Herring Prospectus (RHP) has been issued, detailing a Pre-IPO transaction and a revised offer size. The total IPO is now an offer for sale of up to 170,956,631 equity shares. SBI's portion of the offer for sale has been reduced to up to 99,501,649 equity shares (4.8851% of paid-up capital), down from a previous 128,334,397 shares (6.3007%). Amundi India Holding will offer up to 71,454,982 equity shares (3.5082%). The IPO is contingent on regulatory approvals and market conditions. SBIFM's financial highlights for FY26 show total income of ₹4,969.09 crores and reserves of ₹3,533.09 crores.