India’s largest asset manager SBI Funds Management is looking to raise around US$1.4 billion in an initial public offering, according to Bloomberg, citing people familiar with the matter.
The IPO, which could take place in the first half of the year, is expected to value the asset management firm at about $14 billion, the news agency reported on January 8.
According to the sources cited, deliberations are ongoing and the details could change.
SBI Funds Management, a joint venture between State Bank of India and French asset manager Amundi, had 16.52 trillion rupees ($181 billion) of assets under management as of end-2025.
Spokespersons for SBI Funds Management did not immediately respond to questions from Asia Asset Management.
The company’s plan to go public comes after a year in which India was the biggest market for new listings, with more than 370 IPOs that raised over $22 billion.
Last month, ICICI Prudential Asset Management, India’s second largest asset manager, raised $1.2 billion in an IPO that was oversubscribed 39 times. The company is currently valued at about $14 billion.
