SBI Mutual Fund plans 2026 listing with 10% stake sale

Summary: SBI Mutual Fund, India’s largest asset manager, plans to go public in 2026 with a 10 per cent stake sale split between SBI and its joint venture partner, Amundi India Holding. The listing will mark SBI’s third subsidiary to debut after SBI Cards and SBI Life, further expanding its presence on Dalal Street.

SBI Mutual Fund, India’s largest fund house in terms of assets under management, is expected to make its Dalal Street debut in 2026. 

While the State Bank of India (SBI) will divest a 6.3 per cent stake in its asset management arm, its joint venture partner, Amundi India Holding, will offload 3.7 per cent. Together, the two will sell 10 per cent of the company’s equity. Currently, SBI and Amundi hold stakes of 61.91 per cent and 36.36 per cent, respectively.

According to Challa Sreenivasulu Setty, Chairman of SBI, the current time is “opportune to launch the IPO process,” highlighting the fund house’s consistent track record and market leadership. He further added, “Apart from maximising value realisation for the existing stakeholders, the IPO will create opportunities for the general shareholders, broaden market participation and lead to increased awareness of products to a wider set of potential investors.”

The move comes amid a wave of public listings by major fund houses. ICICI Prudential Mutual Fund has already filed for an IPO, while Canara Robeco Mutual Fund went public last month. Other large players, including HDFC, Nippon India, UTI and Aditya Birla Sun Life, are already listed on the bourses.

Established in 1987 as India’s first non-UTI mutual fund, SBI Mutual Fund today commands a 15.5 per cent market share and manages an asset base of Rs 11.99 trillion as of Q2 FY26.

Also read: SEBI plans major mutual fund overhaul, lower expense ratio