Amundi and State Bank of India have disclosed that their joint venture SBI Funds Management Limited filed its Red Herring Prospectus on 8 July 2026 for a proposed initial public offering on the Indian stock exchanges. Up to 10% of SBIFM's outstanding equity shares will be offered for sale, with SBI offering up to 6.3% and Amundi up to 3.7%, representing up to 128,334,397 and 75,374,842 shares respectively. The price band has been fixed at INR 545 to INR 574 per equity share. The IPO is scheduled to open for public subscription on 14 July 2026 and close on 16 July 2026, with anchor investor bidding on 13 July 2026 and a tentative listing date of 21 July 2026 on the BSE and the National Stock Exchange of India.
Amundi SAAmundi is selling 3.7% of SBIFM shares via the IPO, providing a liquidity event and potential valuation realization.
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State Bank of India GDRSBIFM is the subject of the IPO, which will provide access to public capital markets and liquidity for shareholders.