State Bank of India (SBI) sells 1.42% stake in SBI Funds Management for Rs. 1,655 crore ahead of IPO

Exam-focused facts from the 15 July 2026 current affairs briefing.

Key facts

State Bank of India (SBI) has sold a 1.42% stake in its asset management arm, SBI Funds Management Ltd (SBIFM), to 30 investors for ₹1,655 crore in a pre-IPO placement round.
The stake was sold at ₹574 per share, which is the higher end of the IPO price band.
SBI Funds Management's ₹11,600-crore IPO opens on July 14, 2026 and closes on July 16, 2026.
The entire IPO is an Offer for Sale (OFS) by promoters SBI and Amundi India Holding.