“In accordance with Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we recommend that the Executive Committee of the Central Board (ECCB) of State Bank of India, in its meeting held on November 6, 2025, has approved to dispose of 3,20,60,000 equity shares, equivalent to 6.3007% of the total share capital of SBI Funds Management Limited via IPO, subject to all regulatory approvals,” the bank announced in a filing with the stock exchanges.The move was approved by the lender’s Central Board Executive Committee (ECCB) at its meeting on November 6, 2025.
The IPO master agreement for this transaction is expected to be signed on November 10 and the entire process is expected to be completed sometime in 2026, as per SBI.
In terms of contribution to SBI’s overall financial results, SBIFML recorded a total income of Rs 4,230.92 crore in FY 2024-25, which is approximately 0.64% of SBI Group’s total income. AMC’s Reserve & Surplus stands at Rs 5,108.56 crore, accounting for 1.19% of the group’s total reserves. SBI noted that the final amount it will receive from this share sale will be determined at a later stage in consultation with stakeholders. The divestiture will take place exclusively through the IPO process and will not involve any related party transactions or slump sale arrangements. It was also clarified that the sale is outside the scope of any ‘scheme of arrangement’ and that no promoter group is involved in the buying process.
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SBIFML, a joint venture between SBI and Amundi Asset Management, is one of India’s leading asset management companies.
At around 1.15 pm, shares of SBI were trading flat at Rs 957.20 on the BSE.
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