State Bank of India has announced that its subsidiary, SBI Funds Management Limited, filed a red herring prospectus dated July 8, 2026, with the Registrar of Companies, Mumbai. The filing initiates the proposed initial public offering of up to 203,709,239 equity shares, representing up to 10.0013% of the paid-up equity share capital of SBI Funds Management.

The IPO is entirely an offer for sale. State Bank of India will divest up to 128,334,397 equity shares, amounting to 6.3007% of the subsidiary's paid-up equity share capital. Amundi India Holding will offer up to 75,374,842 equity shares, representing 3.7006% of the paid-up equity share capital. The issue remains subject to regulatory approvals and market conditions.

IPO Timeline and Key Dates

The public offer follows a book-building process under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Anchor investors are scheduled to bid one working day prior to the offer opening date. The specific dates for the bidding process are as follows:

Financials of SBI Funds Management

For the fiscal year 2026, SBI Funds Management reported a total income of ₹4,969.09 crores. This figure represents 0.70% of the total income of the SBI Group. The reserves and surplus of the asset management company stood at ₹3,533.09 crores, which constitutes 0.59% of the reserves and surplus of the SBI Group.

The price band and offer price will be determined in accordance with the SEBI ICDR Regulations and other applicable laws. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

State Bank of India has announced the superannuation of three senior executives effective June 30, 2026. The disclosure impacts key leadership roles within the bank, including the head of its asset management subsidiary and two deputy managing directors overseeing specialized verticals.

The filing was submitted to BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification identifies the specific roles and designations of the personnel vacating their positions.

The executives superannuating include Shri Nand Kishore, who served as the Managing Director & CEO of SBI Funds Management Limited. Additionally, Shri Shiva Om Dikshit, Deputy Managing Director (Special Projects: Ops-Channel Management), and Shri Kshitij Mohan, Deputy Managing Director (SARG), have also retired from their respective positions.

Details of Superannuating Executives