State Bank of India (SBI) has announced updates regarding the Initial Public Offering (IPO) of its subsidiary, SBI Funds Management Limited (SBIFM). SBIFM has filed a Red Herring Prospectus (RHP) dated July 8, 2026, with the Registrar of Companies, Mumbai. The proposed IPO is an offer for sale of up to 203,709,239 equity shares, representing up to 10.0013% of SBIFM's paid-up equity share capital. SBI will offer up to 128,334,397 equity shares (6.3007% stake), while Amundi India Holding will offer up to 75,374,842 equity shares (3.7006% stake). The IPO is subject to regulatory approvals, market conditions, and other considerations. Anchor investors will bid on Monday, July 13, 2026. The Bid/Offer Period for Qualified Institutional Buyers (QIBs) will close on Wednesday, July 15, 2026. The IPO will open for subscription by the public on Tuesday, July 14, 2026, and close on Thursday, July 16, 2026.
