SBI, Amundi Seek $1.22 Billion in India IPO of 10% SBI Funds Stake
Updated
Updated · Bloomberg · Jul 8
SBI, Amundi Seek $1.22 Billion in India IPO of 10% SBI Funds Stake
3 articles · Updated · Bloomberg · Jul 8
Summary
116.9 billion rupees ($1.22 billion) is the target for State Bank of India and Amundi SA as they launch what is expected to be India’s first billion-dollar IPO of 2026.
203.71 million shares in SBI Funds Management are being offered at 545 rupees to 574 rupees each, valuing the sale at up to a 10% stake in the country’s largest fund house by assets.
SBI Funds itself is not issuing new shares, making the deal a secondary sale by its two biggest shareholders rather than a capital-raising exercise for the company.
The offering signals a revival in India’s IPO market, with a billion-dollar listing returning after a quieter stretch this year.