Skip to content

Amundi, State Bank of India Seek $1 Billion IPO for Fund JV

  • SBI Funds with $79b assets is India’s largest asset manager
  • Listing is aimed for 2022 pending regulatory approvals
Updated on

State Bank of India and Amundi Asset Management plan to offload a combined 10% stake in their Indian mutual fund joint venture, extending a record year for listings in the South Asian nation.

State Bank, India’s largest lender, aims to sell a 6% stake in SBI Funds Management Pvt. and Amundi 4%, the firms said in separate filings Wednesday. The IPO will seek to raise about $1 billion, according to people with knowledge of the matter, unchanged from when Bloomberg News had first reported the planned transaction in February.