SBI to divest 6.3% stake in SBIFML via IPO, targeting 2026 listing
SBI to divest 6.3% stake in SBIFML via IPO, targeting 2026 listing
SBI plans a 6.3% divestment in SBIFML through an IPO, with Amundi offloading 3.7%; listing 10% of SBIFML to boost value and public market presence by 2026.
State Bank of India said it will divest 3,20,60,000 equity shares, representing 6.3% of SBIFML's total equity, through an initial public offering subject to regulatory approvals. Amundi India Holding, the other promoter, will offload 1,88,30,000 shares, or 3.7% of SBIFML. In all, 5,08,90,000 shares, equal to 10% of SBIFML's equity, will be listed. The two promoters have jointly initiated the IPO process, which SBI says is targeted for completion in 2026. SBIFML is the country's largest asset-management company, with a market share of 15.55% and a quarterly average assets under management (QAAUM) of ₹11.99 lakh crore for Q2 FY2025-26, and total assets under management (AUM) of ₹16.32 lakh crore in alternatives as of September 30, 2025. SBI Chairman Challa Sreenivasulu Setty noted that SBIFML will be the third SBI subsidiary to be listed after SBI Cards and SBI Life Insurance, signaling the lender's intent to deepen its presence in the public markets.
Setty framed the move as well-timed, highlighting SBIFML's sustained performance and market leadership. He emphasized that the IPO is an opportune moment to launch the process, aiming to maximize value for stakeholders and broaden investor access.
Industry observers view the move as a sign that Indian public-sector banking groups are comfortable expanding into asset-management franchises via public markets, potentially attracting long-term investors to the mutual fund space.
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