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SBI Funds Management Limited (SBIFML), the asset management company of SBI Mutual Fund, has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India for a proposed initial public offering. As per the DRHP, the IPO is structured entirely as an offer for sale, with existing shareholders divesting a portion of their holdings
The DRHP provides an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.
SBI Funds Management Limited filed its Draft Red Herring Prospectus with SEBI on March 19, 2026, and the DRHP was subsequently displayed on SEBI’s public issues page on March 23, 2026. The filing marks the formal initiation of the IPO process and is currently under regulatory review.
As per the SBI Funds Management IPO DRHP, the proposed public issue is entirely an offer for sale by existing shareholders.
According to the DRHP, the proposed IPO is likely to include the following components:
| Particulars | Details |
|---|---|
Issue Type |
Book-built issue (100% Offer for Sale) |
Total Shares Offered |
Up to 20,37,09,239 equity shares |
Face Value |
₹1 per equity share |
Fresh Issue |
Nil |
Offer for Sale |
Entire issue by existing shareholders |
Promoter Sellers |
State Bank of India, Amundi India Holding |
Proposed Listing |
NSE and BSE |
Price Band |
To be announced in RHP |
These details reflect indicative disclosures available at the DRHP stage and are subject to change based on SEBI observations and final approvals.
SBI Funds Management Limited is the investment manager to SBI Mutual Fund and operates as a joint venture between State Bank of India and Amundi. Incorporated in 1992, it is one of India’s largest asset management companies by assets under management.
Key aspects of its operations include:
Managing a diversified portfolio of mutual fund schemes across equity, debt, hybrid, ETF, and index fund categories
Offering portfolio management services and passive investment products
Serving over 16 million investors across retail and institutional segments
Leveraging a distribution network including bank branches, advisors, and digital platforms
The company operates across both active and passive investment segments, as described in the DRHP
Since the SBI Funds Management Limited IPO is entirely an offer for sale, the company will not receive any proceeds from the issue.
The key objectives of the IPO, as outlined in DRHP-based disclosures, include:
| Purpose | Description |
|---|---|
Offer for Sale |
The offer comprises a sale of equity shares by existing shareholders, including State Bank of India and Amundi India Holding |
As per the DRHP, the IPO consists entirely of an offer for sale, and the company will not receive any proceeds from the issue.
The DRHP outlines SBI Funds Management Limited’s financial performance in recent years, highlighting its asset base, revenue patterns, and overall profitability trajectory.
| Fiscal Year / Period | Total Income (₹ Crore) | EBITDA (₹ Crore) | PAT (₹ Crore) | Assets (₹ Crore) |
|---|---|---|---|---|
FY2023 |
2,412.58 |
1,810.41 |
1,339.71 |
4,984.24 |
FY2024 |
3,426.08 |
2,718.82 |
2,072.79 |
7,106.93 |
FY2025 |
4,236.15 |
3,412.94 |
2,540.15 |
8,771.86 |
9M FY2026 |
3,883.24 |
3,186.56 |
2,432.91 |
7,824.71 |
*Detailed year-wise financial statements, including audited figures, are available in the DRHP and should be referred to for complete financial information.
Track the IPO journey and key regulatory milestones:
| Milestone / Stage | Date (or Status) | Details |
|---|---|---|
DRHP filed with SEBI |
March 19, 2026 |
IPO initiated as OFS-only issue |
DRHP listed on SEBI website |
March 23, 2026 |
Available under public issues section |
SEBI observations |
Awaited |
Under regulatory review |
Filing of RHP |
To be announced |
Will include price band and final details |
IPO Opening Date |
Not yet announced |
Awaited |
IPO Closing Date |
To be announced |
Final schedule pending |
Listing on NSE/BSE |
To be announced |
Subject to completion of IPO process |
Note: Investors should refer to official filings for final IPO dates to learn more about SBI Funds Management Limited IPO listing details and price, and listing timelines.
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
SBI Funds Management Limited filed its Draft Red Herring Prospectus with SEBI on March 19, 2026.
The SBI Funds Management Limited IPO is entirely an offer for sale of up to 20.37 crore equity shares, with no fresh issue component.
SBI Funds Management Limited is an asset management firm that manages mutual fund schemes and investment products under SBI Mutual Fund across equity, debt, and other categories.
The SBI Funds Management Limited IPO is intended to provide liquidity and partial exit to existing shareholders and enhance market visibility through listing.
The SBI Funds Management Limited IPO is currently at the DRHP stage and is under review by SEBI. Further updates will be available after regulatory observations.
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