Amundi India Holding, the other promoter of SBIFML, will divest 3.70 percent or 1.88 crore shares.
Both the promoters of SBIFML have jointly initiated the IPO, which is likely to be completed this year, SBI said.
SBI Mutual Fund, the largest in the industry, was established in 1987 with SBI as the sponsor and was the first non-UTI mutual fund in India.
In the year 1992, SBI Funds Management was established as a wholly owned subsidiary of SBI as an investment manager for SBI Mutual Funds to provide investment solutions across asset classes.
Currently, SBI and Amundi India Holding hold 62 percent and 36 percent stake in SBIFML.
SBIFML is the largest asset manager in the country with a market share of 15.55 percent
managing quarterly average assets under management of ₹11.99 trillion under various schemes of SBI Mutual Funds and AUM of ₹16.32 trillion under Alternates as of September end.
Challa Sreenivasulu Setty, chairman of SBI, said the mutual fund business will be the third subsidiary of SBI to list after SBI Cards and SBI Life Insurance.
Besides maximizing value realization for existing stakeholders, the IPO will create opportunities for general shareholders, broaden market participation and lead to increased product awareness among a broader group of potential investors, he said.
Published on November 6, 2025
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