SBI Funds Management Targets ₹1.17 Lakh Crore Valuation Ahead Of Proposed IPO

SBI Funds Management is aiming for a valuation of around ₹1.17 lakh crore, or nearly $12.3 billion, for its upcoming initial public offering (IPO), according to Moneycontrol. The country’s largest asset management company is expected to launch its public issue later this month, with the proposed valuation placing it among the biggest listings in India’s asset management sector.

As per the report, investor roadshows have been completed and the valuation band has been finalised. The IPO is expected to open during the week of 13 July, while the listing is likely around 22 July. The report also stated that the company may explore a pre-IPO placement before the public issue.

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Offer For Sale Structure

The company will undertake an offer for sale (OFS) of 20.37 crore equity shares (10% stake in the company) in the IPO. Existing shareholders will reduce their holdings through the transaction, while SBI Funds Management will not receive any proceeds from the sale.

According to the draft red herring prospectus, State Bank of India holds 61.76% of the company and Amundi Group owns 36.26%. Under the proposed issue, SBI plans to sell a 6.3% stake, while Amundi will divest 3.7%.

The company has already secured approval from the Securities and Exchange Board of India (SEBI). The issue is being managed by Kotak Mahindra Capital, Axis Capital, Jefferies, ICICI Securities, HSBC Securities, Motilal Oswal, JM Financial, SBI Capital Markets and BofA Securities.

Industry Leader By Assets Under Management

According to the draft prospectus, SBI Funds Management had quarterly average assets under management (QAAUM) of ₹12,49,970 crore as of 31 December 2025, giving it a 15.4% share of the domestic mutual fund industry. Including portfolio management services and advisory mandates, its total QAAUM stood at ₹29,04,026 crore.

Passive Investment

In addition to that, the asset management company also headed the passive investment sector where exchange traded funds and index funds contributed passive QAAUM of ₹3,99,953 crore constituting market share of 29.6% by December 2025.

Establishment In The Mutual Fund Sector

SBI Funds Management is the investment management company for SBI Mutual Fund which was incorporated in June 1987 becoming the first ever mutual fund set up other than erstwhile Unit Trust of India. As of 31 December 2025, the company catered to 16.05 million unique investors across retail and institutional segments, according to its draft filing.

According to Moneycontrol, the proposed public issue is expected to be one of the most closely tracked IPOs this month. Its size and valuation are likely to make it a key development in the primary market alongside other large offerings scheduled for July.