SBI Funds Management Taps Citi, HSBC for $1.4 Billion IPO

• SBI Funds Management plans a $1.4 billion IPO by H1 2026, aiming for a $14 billion valuation.
• Nine banks, including Citi, HSBC, Kotak Mahindra Capital, and Axis Bank, have been hired as advisors.
• State Bank of India and Amundi SA, joint owners, plan to sell a combined 10% stake.
• The move follows ICICI Prudential AMC's successful $1.2 billion IPO, also valued at $14 billion.
• India's IPO market saw significant activity in 2025, raising over $22 billion.

Why It Matters: SBI Funds Management is preparing for a major $1.4 billion IPO by H1 2026 with top banks.