Corporate SBI and Amundi jointly initiate to list SBI Funds Management

State Bank of India (“SBI”) and Amundi have jointly initiated an Initial Public Offering (IPO) of SBI Funds Management Limited (“SBIFM”). The listing on the stock exchanges in India should occur in 2026, subject to regulatory approval and market conditions.

Incorporated in 1992, and currently owned by SBI (61.9%), Amundi (36.4%) and others (including Employee Stock Ownership Programs)[1] SBIFM has become the leader in the Indian asset management industry, with a market share above 15.5%[2] in mutual funds, and total assets under management of INR 28.31 trillion (€269 billion)[3].

At IPO, it is intended that 10% of the SBIFM capital will be offered for sale, 6.3% sold by SBI and 3.7% by Amundi.   

Valérie Baudson, Chief Executive Officer of Amundi, commented, “Over the years, SBI Funds Management Limited has established itself as the leader in India’s asset management industry. It has grown successfully, leveraging on the powerful distribution capacity of SBI’s network in India, combined with Amundi’s global expertise in asset management. This IPO will allow to unlock the value jointly created by SBI and Amundi, which will continue their long-term partnership in a fast-growing Indian market that presents significant development potential.”

SBI Chairman, Shri Challa Sreenivasulu Setty said, “SBI Funds Management Limited will be the third subsidiary of SBI to be listed after SBI Cards and SBI Life Insurance. Considering SBIFM’s sustained strong performance and market leadership over the years, it is considered an opportune time to launch the IPO process. Apart from maximizing value realization for the existing stakeholders, the IPO will create opportunities for the general shareholders, broaden market participation and lead to increased awareness of products to a wider set of potential investors. This will further enhance the public visibility of the Company, thereby reinforcing its position as a leading player in the asset management industry”.


[1] 1.7% of SBIFM’s shareholding is held by employees and other individuals. 

[2] Association of Mutual Funds in India - AMFI 30.06.2025

[3] As of end-September 2025

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    SBI and Amundi jointly initiate to list SBI Funds Management

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Premier gérant d’actifs européen parmi les 10 premiers acteurs mondiaux1, Amundi propose à ses 100 millions de clients - particuliers, institutionnels et entreprises - une gamme complète de solutions d’épargne et d’investissement en gestion active et passive, en actifs traditionnels ou réels. Cette offre est enrichie de services et d’outils technologiques qui permettent de couvrir toute la chaîne de valeur de l'épargne. Filiale du groupe Crédit Agricole, Amundi est cotée en Bourse et gère aujourd’hui plus de 2 300 milliards d’euros d’encours2.

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Footnotes

  1. Source : IPE « Top 500 Asset Managers » publié en juin 2024 sur la base des encours sous gestion au 31/12/2023
  2. Données Amundi au 31/03/2025
  3. Paris, Londres, Dublin, Milan, Tokyo et San Antonio (via notre partenariat stratégique avec Victory Capital)

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