SBI Funds Management, India’s largest asset manager, has received SEBI approval for its DRHP and is expected to file its RHP and announce the IPO price band in early July. The IPO comprises an offer-for-sale of 20.37 crore shares, representing a 10 percent stake, with no fresh issue. State Bank of India owns 61.76 percent of the AMC, while Amundi India Holding holds 36.26 percent. If listed, it will become SBI’s third listed subsidiary and the sixth listed AMC in India. The company reported strong growth, with FY25 profit rising 22.5 percent to Rs 2,540 crore and revenue up 33.7 percent.