SBI Funds Management announced it will raise $1.2 billion through its initial public offering, expected to open around July 14, 2026 [1, 2, 3, 4]. The IPO involves State Bank of India (SBI) and European asset manager Amundi jointly selling 10% of their shares in the venture [1, 2, 3, 4].
SBI Funds Management is a joint venture between SBI and Amundi, managing assets worth 12.5 trillion Indian rupees (approximately $131.1 billion) as of the end of March 2026 [1, 2, 3, 4]. The company’s valuation at the IPO is expected to reach around $12.3 billion [1, 2, 3, 4].
The public offering has drawn strong demand from large domestic institutional investors and sovereign wealth funds, including Singapore’s GIC and the Abu Dhabi Investment Authority (ADIA) [1, 2, 3, 4]. An anonymous source noted the offering has "commitments worth nearly five times of the amount reserved for institutional investors" [1].
Despite robust institutional interest, half of the IPO shares are reserved for individual investors to participate [1, 2, 3, 4]. The IPO will be the largest in India since early 2026, following disruptions caused by the Iran war and its effects on oil prices and investment sentiment [1, 2, 3, 4].
Other notable IPOs expected later this year in India include Reliance Jio, which plans to raise about $3.8 billion, and the National Stock Exchange with an estimated $3.3 billion offering [1, 3, 4]. There are currently 251 companies in India lined up to go public, targeting a combined fundraising of approximately 4.93 trillion rupees (around $51.7 billion) [1, 3, 4].
The IPO opening of SBI Funds Management is scheduled for next week, with subscription periods expected to start from July 14, 2026 [1, 2, 3, 4].
