Current Affairs - Finance - Discussion

State Bank of India (SBI) has approved the divestment of a 6.3% stake, equivalent to 3.2 crore shares, in its subsidiary SBI Funds Management Ltd (SBIFML) via an Initial Public Offering (IPO). Additionally, its co-promoter, Amundi India Holding, will sell 3.7%, making the total IPO size 10% of equity. This move aims to unlock value and prepare SBIFML for its public listing in 2026, marking it as SBI’s third listed subsidiary after SBI Cards and SBI Life Insurance.