SBI Funds Management has secured clearance from the Securities and Exchange Board of India (SEBI) for its draft red herring prospectus, according to details available on the regulator’s website.
The approval was issued on 12 June 2026.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The fund management company is expected to submit its red herring prospectus and disclose the price band in the first week of July, reported Moneycontrol.
The company had submitted its draft papers to the regulator on 19 March 2026.
The public issue is structured entirely as an offer for sale of 203.7 million shares, equivalent to a 10% holding and does not include any fresh issue.
State Bank of India owns 61.76% of SBI Funds Management, while Amundi India Holding has a 36.26% shareholding.
Set up in 1992, SBI Funds Management became a joint venture in 2004 when Societe Generale Asset Management bought a 37% interest.
In 2011, that holding was later taken over by Amundi Asset Management through its unit, Amundi India Holding.
The company has held the top position among asset management companies since March 2021, with a 15.4% share of the mutual fund market.
If the share sale moves ahead, SBI Funds Management would become the third State Bank of India subsidiary to be listed, the news publication added.
It is also set to be the sixth asset management company on the stock market, joining ICICI Prudential Asset Management Company, HDFC Asset Management Company, Nippon Life India Asset Management, Aditya Birla Sun Life Asset Management, and UTI Asset Management Company.
