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SBI Funds wants to raise $1.2B via IPO in 2026
13 Nov 2025

SBI Funds Management Ltd, India's largest asset manager, is planning a major initial public offering (IPO) to raise up to $1.2 billion.

The IPO is likely to be held in Mumbai during the first half of 2026, people familiar with the matter told Bloomberg.

SBI Funds will soon invite banks for pitches related to this upcoming IPO.

Potential IPO could value SBI Funds at $12B
Valuation

The potential IPO could value SBI Funds at a whopping $12 billion.

The company is jointly owned by State Bank of India and Amundi SA.

The two entities announced their plan to sell a combined 10% stake through an IPO, which is also expected to take place in 2026.

A look at listings in India
Market performance

India has emerged as one of the world's busiest markets for new listings, raising nearly $18 billion this year alone.

The figure is just shy of last year's record of about $21 billion, according to Bloomberg data.

Tata Capital's $1.7 billion IPO led the charge in this year's fundraising efforts.