IPO of SBI FM State Bank of India and Amundi announce the successful listing of SBI Funds Management Limited

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR TO US PERSONS (AS DEFINED IN REGULATION S UNDER THE US SECURITIES ACT OF 1933, AS AMENDED), AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

 

SBI Funds Management Limited (“SBI Funds” or “SBIFM” or the “Company”), India’s largest asset management company, today marked a historic milestone with the successful listing of its equity shares on the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”), pursuant to its initial public offering (“IPO”, and such listing, the “Listing”).

The Listing represents the beginning of a new chapter in the Company’s three-decade journey of serving millions of investors and creating long-term wealth through disciplined investing.

The IPO received an overwhelming response from retail, wealth and institutional investors, and was subscribed ~42 times, reflecting deep confidence in SBI Funds’ business model, governance standards, investment capabilities and long-term growth prospects. The strong participation from domestic and international institutional investors, retail investors, shareholders of State Bank of India (“SBI”) and employees of SBI and SBI Funds underscores the confidence of the investment community in both SBI Funds and India’s long-term economic growth story. 

Speaking on the occasion, Shri Challa Sreenivasulu Setty, Chairman, State Bank of India, and Chairman & Non-Executive Director, SBI Funds Management Limited said: “The listing of SBI Funds Management marks a defining milestone in the Company’s journey and reflects the trust that millions of investors have placed in us over the years. We are deeply grateful for the overwhelming confidence shown by investors across all categories.

As a listed company, SBI Funds enters a new phase of responsibility and accountability. Guided by the highest standards of governance and transparency, we remain committed to creating long-term value for our shareholders while helping millions of Indians achieve their financial aspirations through disciplined investing.

Backed by the enduring partnership between State Bank of India and Amundi, SBI Funds is well positioned to deepen investor participation, expand access to investment solutions and continue contributing to India’s growing financial savings ecosystem. “

Ms. Valérie Baudson, Chief Executive Officer of Amundi, commented: “The successful listing of SBI Funds Management Ltd. is a remarkable achievement for the company, a clear illustration of the depth and dynamism of India’s capital markets, and a powerful illustration of the strength and relevance of our long-standing partnership with SBI. 

Together, State Bank of India and Amundi have built the leading asset management platform in India, combining SBI’s exceptional distribution strength with Amundi’s global expertise in asset management and its international perspective.

Over the years, SBIFM has established leading market positions across many segments of the Indian asset management industry. It has built a highly recognized brand and is well positioned to capture opportunities arising from rising household savings and the increasing shift toward financial assets in one of the world’s most promising savings and investment markets.

I am convinced that this IPO is a major milestone and will support the company’s growth ambitions as it enters a new phase of expansion. By further enhancing its visibility and strengthening its profile among investors, the listing will further reinforce the foundations for its long-term expansion.

As long-term shareholders, we are fully committed to contributing to this growth, and our partnership with SBI will remain central to the future development of SBI Funds Management Ltd.”

  1. ^

    By quarterly average mutual fund assets under management as of March 31, 2026

Initial public offering of SBI Funds Management Limited (”SBI FM”)

This website contains information relating to the contemplated initial public offering of SBI Funds Management Limited. This information may not be accessed by residents of certain countries.

European Economic Area (including France)

With respect to each Member State of the European Economic Area (the “Member States”) which is subject to the provisions of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017, as amended (the “Prospectus Regulation”), the information available in the following pages is directed only at any person or entity which is a qualified investor as defined in the Prospectus Regulation. These restrictions with respect to any Relevant Member State apply in addition to any other restrictions which may be applicable in any Relevant Member State.

United Kingdom

In the United Kingdom, the information available in the following pages is directed only at qualified investors as defined in paragraph 15 of Schedule 1 of the Public Offers and Admissions to Trading Regulations 2024 (the “POATRs”).

The information available in the following pages is directed only at persons who (1) are outside the United Kingdom, (2) are “qualified investors” within the meaning of paragraph 15 of Schedule 1 to the POATRs, (A) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”), or (B) who fall within Article 49(2)(a) to (d) of the Order, or (C) to whom it may lawfully be communicated (all such persons, together with the qualified investors in the European Economic Area, being referred to as “Relevant Persons”). Any investment or investment activity to which this website and the information contained herein relates is available only to Relevant Persons in the United Kingdom and will be engaged in only with such persons. Any person who is not a Relevant Person should not act or rely on the information contained in this website.

The information available in the following pages is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which the information available in the following pages relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

United States and other States

This website and the information contained herein are not intended for, and may not be accessed by, or distributed or disseminated to, persons resident or physically present in the United States of America (including its territories, the “United States”), South Africa, Canada, Japan or Australia, and do not constitute an offer to sell or the solicitation of an offer to purchase or acquire, any ordinary shares or other securities of SBI FM in the United States, South Africa, Canada, Japan or Australia. 

The shares of SBI FM referred to on this website have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the Investment Company Act of 1940, as amended (the “U.S. Investment Company Act”), and may not be offered or sold in the United States or to persons who are U.S. Persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from registration under the U.S. Securities Act and the U.S. Investment Company Act.

All persons residing outside of the European Economic Area, the United States, South Africa, Canada, Japan and Australia who wish to access the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website, or require registration or approval for any acquisition of securities by them. No such registration or approval has been or will be obtained by Amundi in such jurisdictions. Amundi assumes no responsibility for any violation of applicable laws and regulations by any person.

By accessing the information available in the following pages, you confirm that you are in compliance, and agree to comply, with the restrictions described above.

I certify that:

(1) I am a resident of and physically present in a Member State of the European Economic Area or the United Kingdom, and I am:

(a)  a qualified investor as defined in Regulation (EU) 2017/1129, as amended, and in paragraph 15 of Schedule 1 of the Public Offers and Admissions to Trading Regulations 2024 in the United Kingdom; or

(b)  otherwise authorized to access this information pursuant to applicable laws or regulations.

and

(2) I am not a resident of or physically present in the United States, South Africa, Canada, Japan or Australia.

I have read and understood the foregoing, and hereby make the certifications above and agree to comply with all of the above restrictions: 

No, I leave the website
fingerprint

To secure its communication, Amundi certifies its contents on Wiztrust.

You can check the authenticity on the website www.wiztrust.com

wiztrust logo

Download documents

  • 07.21.26

    21.07.2026 - PR - State Bank of India and Amundi announce the successful listing of SBI Funds Management Limited

    262 KB PDF Download

Share

About Amundi

Amundi, the leading European asset manager, ranking among the top 10 global players1, offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.3 trillion of assets2.

With its six international investment hubs3, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

Amundi clients benefit from the expertise and advice of 5,600 employees in 35 countries.

Amundi, a trusted partner, working every day in the interest of its clients and society

www.amundi.com    

Footnotes

  1. Source: IPE "Top 500 Asset Managers" published in June 2024 based on assets under management as of 31/12/2023
  2. Amundi data as at 31/03/2025
  3. Paris, London, Dublin, Milan, Tokyo and San Antonio (via our strategic partnership with Victory Capital)

Latest publications