Sale19 Mar 2026, 09:51 pm
State Bank of India to Sell 6.3007% Stake in SBI Funds Management Limited via IPO
AI Summary
State Bank of India (SBI) has announced its intention to sell a 6.3007% stake in its subsidiary, SBI Funds Management Limited (SBIFML), through an initial public offering (IPO). The IPO will include an offer for sale of up to 128,334,397 Equity Shares by SBI and up to 75,374,842 Equity Shares by Amundi India Holding. The IPO is subject to regulatory approvals, market conditions, and other considerations. The sale is not part of a scheme of arrangement and does not involve any related party transactions.
Key Highlights
- State Bank of India to sell 6.3007% stake in SBI Funds Management Limited through IPO
- IPO comprises an offer for sale of up to 203,709,239 Equity Shares by SBI and Amundi India Holding
- IPO subject to regulatory approvals, market conditions, and other considerations
- Sale not part of a scheme of arrangement
- No related party transactions involved