SBI Subsidiary SBIFM Files Red Herring Prospectus for IPO

State Bank of India (SBI) has announced that its subsidiary, SBI Funds Management Limited (SBIFM), has filed a Red Herring Prospectus (RHP) with the Registrar of Companies, Mumbai. This filing is in relation to SBIFM's proposed Initial Public Offering (IPO), which will be an offer for sale of up to 203,709,239 equity shares. SBI will offer up to 128,334,397 shares (6.3007% stake), and Amundi India Holding will offer up to 75,374,842 shares (3.7006% stake). The IPO is subject to regulatory approvals and market conditions. The subscription period for the public is scheduled from July 14, 2026, to July 16, 2026. SBIFM's financial performance for Fiscal 2026 shows a total income of Rs. 4,969.09 crores and reserves and surplus of Rs. 3,533.09 crores.