State Bank of India on Thursday said it will sell a 6.3 per cent stake in SBI Funds Management through an initial public offering.

In a stock exchange filing, SBI said, “The Executive Committee of the Central Board (ECCB) of State Bank of India in the meeting held on 6th November, 2025, has accorded approval to divest 32,060,000 (32.06 million) equity shares, being equivalent to 6.3007 per cent of total equity capital of SBI Funds Management Limited through Initial Public Offering, subject to all regulatory approvals.”

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The IPO Framework Agreement is expected to be executed on November 10 and is expected to be completed in 2026, said SBI.

Currently, SBI holds a 61.9 per cent stake in SBI Funds Management, while Amundi has a 36.4 per cent stake.

“Amundi India Holding, the

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