- SBI plans to list its asset management arm, SBI Funds Management, in 2027
- Draft prospectus for the IPO has already been filed with SEBI by SBI Funds Management
- The IPO will be an offer-for-sale raising about Rs 13,000 crore for a 10% stake
State Bank of India Chairman CS Setty said the country's largest lender expects to list its asset management subsidiary, SBI Funds Management, in calendar year 2027, adding that the draft prospectus for the public issue has already been filed with the market regulator. Speaking to NDTV Profit, Setty said at the CITI India 2026 Conference, “Hope to list SBI AMC in CY27,” confirming progress on one of the most anticipated public offerings in India's financial services sector.
SBI Funds Management filed its Draft Red Herring Prospectus with SEBI in March. The proposed issue is entirely an offer-for-sale, with existing shareholders planning to divest up to 20.37 crore shares, representing a 10% stake. The IPO is expected to raise around Rs 13,000 crore, valuing the issue among the largest in India's asset management industry.
Under the offer structure, SBI plans to sell a 6.3% stake, while joint venture partner Amundi Asset Management will divest 3.7%. The company is currently owned 63% by SBI and 37% by Amundi.
'Don't Look At The Sensex'
Setty struck an optimistic tone on India's economic outlook despite rising geopolitical tensions and recent market volatility. “The whole global economy is navigating geopolitical volatility,” he said, adding that every year brings a new set of challenges.
However, he urged investors to focus on India's structural growth story rather than short-term market movements. “Don't look at the Sensex, look at India as a long-term story,” Setty said. According to him, India has moved beyond being a catch-up economy and is emerging as “a defining growth story of the 21st century.”
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