State Bank of India (SBI) climbed 1.52% to Rs 1,064.90 after the bank’s subsidiary company, SBI Funds Management (SBIFM) has filed a draft red herring prospectus (DRHP) with SEBI for an initial public offer (IPO).
The proposed IPO comprises up to 20,37,09,239 equity shares with a face value of Re 1 each, representing up to 10.0013% of the companys paid-up equity share capital. The issue is entirely an offer for sale (OFS).
As a part of OFS, SBI plans to offload 12,83,34,397 equity shares (amounting to 6.30% stake) while Amundi India Holding will sell up to 7,53,74,842 equity shares (about 3.70% stake).
For FY25, SBI Funds Managements total income stood at Rs 4,230.92 crore(0.64% of total income of SBI Group) The companys reserves & surplus was at Rs 5,108.56 crore, accounting for 1.19% of SBI Groups total reserve and surplus.
State Bank of India is engaged in providing a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers.
The bank reported a 24.49% jump in net profit to Rs 21,028 crore on a 9.69% increase in total income to Rs 140,915 crore in Q3 FY26 as compared with Q3 FY25.
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