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SBI and Amundi jointly initiate to list SBI Funds Management
November 6, 2025
State Bank of India (“SBI”) and Amundi have jointly initiated an Initial Public Offering (IPO) of SBI Funds Management Limited (“SBIFM”). The listing on the stock exchanges in India should occur in 2026, subject to regulatory approval and market conditions.
Incorporated in 1992, and currently owned by SBI (61.9%), Amundi (36.4%) and others (including Employee Stock Ownership Programs)[1] SBIFM has become the leader in the Indian asset management industry, with a market share above 15.5%[2] in mutual funds, and total assets under management of INR 28.31 trillion (€269 billion)[3].
At IPO, it is intended that 10% of the SBIFM capital will be offered for sale, 6.3% sold by SBI and 3.7% by Amundi.
Valérie Baudson, Chief Executive Officer of Amundi, commented, “Over the years, SBI Funds Management Limited has established itself as the leader in India’s asset management industry. It has grown successfully, leveraging on the powerful distribution capacity of SBI’s network in India, combined with Amundi’s global expertise in asset management. This IPO will allow to unlock the value jointly created by SBI and Amundi, which will continue their long-term partnership in a fast-growing Indian market that presents significant development potential.”
SBI Chairman, Shri Challa Sreenivasulu Setty said, “SBI Funds Management Limited will be the third subsidiary of SBI to be listed after SBI Cards and SBI Life Insurance. Considering SBIFM’s sustained strong performance and market leadership over the years, it is considered an opportune time to launch the IPO process. Apart from maximizing value realization for the existing stakeholders, the IPO will create opportunities for the general shareholders, broaden market participation and lead to increased awareness of products to a wider set of potential investors. This will further enhance the public visibility of the Company, thereby reinforcing its position as a leading player in the asset management industry”.
Footnotes
- [1] 1.7% of SBIFM’s shareholding is held by employees and other individuals. ↑
- [2] Association of Mutual Funds in India - AMFI 30.06.2025 ↑
- [3] As of end-September 2025 ↑
Expert
Valérie Baudson
Member of Executive Committee of Crédit Agricole S.A., Chief Executive Officer of Amundi
Valérie Baudson is Deputy Chief Executive Officer of Crédit Agricole S.A. in charge of the asset management division and a member of the Executive Committee of Crédit Agricole SA since May 202[...]
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Corentin Henry
Head of Press Relations and Social Media
About Amundi
About Amundi
Amundi, the leading European asset manager, ranking among the top 10 global players[1], 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 €2.2 trillion of assets[2].
With its six international investment hubs[3], 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 5,700 employees in 35 countries.
Amundi, a trusted partner, working every day in the interest of its clients and society.
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