SBI Funds Management IPO Likely In April, DRHP May Be Filed Mid-February

SBI Funds Management is expected to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India by the middle of February. The company is expected to raise funds through an initial public offering (IPO) and get listed by April, according to a report by Mint.

The IPO could raise funds of around $1.2 billion to $1.4 billion as pitched by investment bankers, which will take the value of the company to $12 billion to $14 billion, the report said.

SBI Funds Management, India’s largest asset manager in terms of funds managed, is a joint venture between State Bank of India (SBI) and Amundi, a French asset manager. In the venture, SBI holds a 61.9 per cent stake, while Amundi holds a 36.4 per cent stake.

SBI and Amundi, in November, had announced their decision to go for a public listing in 2026, subject to market conditions and approvals. In the public issue, SBI will sell 6.3 per cent of their stake while Amundi will sell 3.7 per cent.

Sebi typically takes two to three months to approve a public issue, but the final details of the IPO are being worked out by the parent companies, the paper reported. The IPO will consist of an offer for sale by SBI and Amundi, and the stake sale is being considered to meet regulatory requirements, it said.

SBI Funds Management Valuation

Total assets under management (AUM) of the company are worth around Rs. 12.5 lakh crore by the end of December. The company reported that it made a net profit of Rs. 2,531 crore in the 2024-25 fiscal year, which ended last March. In the previous financial year, the company had made a net profit of Rs. 2,062 crore.

India’s IPO market has been at a peak, with many companies using the demand in domestic markets to time the market and list their shares. In 2025, 103 companies raised Rs. 1.76 lakh crore through IPOs, compared to 91 companies raising Rs. 1.6 lakh crore in 2024, data from Prime Database showed. Increasingly, many companies have opted for only the offer-for-sale route in public issues.

SBI Funds Management Competitors

SBI Funds Management has private asset management companies as its competitors. ICICI Prudential AMC and HDFC AMC are two of the top asset management companies which are listed on the exchanges and are competitors of SBI Funds Management in India. Other competitors of the company include Kotak Mahindra Mutual Fund, Aditya Birla Sun Life Mutual Fund, and others.