IPO

SBI Funds Management gears up for USD 1.4 bn IPO

State Bank of India (SBI) and Europe’s largest asset manager, Amundi SA, have hired nine banks to lead a USD 1.4 bn (INR 110-130 bn) initial public offering of SBI Funds Management in 1H 2026, Bloomberg reports. The agreement involves a combined 10% secondary stake sale — 6.3% from SBI and 3.7% from Amundi —…