SBI Sells 1.41% Stake in SBIFM for ₹1,655 Cr in Pre-IPO Deal

State Bank of India (SBI) has entered into share purchase agreements to sell 2,88,32,748 equity shares of its subsidiary, SBI Funds Management Limited (SBIFM), representing 1.4156% of the pre-Offer share capital. The transaction, valued at ₹1,655.00 crores, involves selling shares at ₹574.00 each to 30 investors. This Pre-IPO transaction is a step towards the eventual Initial Public Offering (IPO) of SBIFM. The financial details of SBIFM, including total income and reserves, were also disclosed as part of the regulatory filing. The transaction is expected to be completed by July 10, 2026.