Date: July 9, 2026
Board Meeting Outcomes
State Bank of India has entered into share purchase agreements to sell, in aggregate, 2,88,32,748 equity shares of SBI Funds Management Limited (SBIFM) of face value ₹1 each, being equivalent to 1.4156% of pre-Offer share capital of SBIFM. The transaction was executed on July 9, 2026.
Disinvestment / Strategic Actions
- Nature of Entity: SBI Funds Management Limited, a subsidiary company of State Bank of India
- Stake Sold: 1.4156% of pre-Offer share capital (2,88,32,748 equity shares)
- Price per Share: ₹574.00 per equity share
- Aggregate Consideration: ₹1,655.00 crores
- Number of Investors: 30 investors
- Transaction Type: Pre-IPO transaction
- Conditions: Subject to fulfilment of conditions precedent in the respective share purchase agreements
- Expected Completion Date: By July 10, 2026 (1 business day after execution)
- Strategic Rationale: Part of SBIFM's initial public offering process
Investor Details
The 30 investors and their respective allocations are:
1. 3P India Equity Fund 1: 26,13,240 shares (₹149.99 crore)
2. Malabar India Fund Limited: 8,71,080 shares (₹49.99 crore)
3. Neo Secondaries Fund: 8,71,080 shares (₹49.99 crore)
4. Neo Series 1 LVF: 8,71,080 shares (₹49.99 crore)
5. PI Opportunities Fund - II: 34,84,320 shares (₹199.99 crore)
6. 360 ONE Special Opportunities Fund - Series 13: 6,96,864 shares (₹39.99 crore)
7. 360 ONE Private Equity Fund - Series 2: 4,35,540 shares (₹24.99 crore)
8. 360 ONE Special Opportunities Fund - Series 11: 4,35,540 shares (₹24.99 crore)
9. 360 ONE Equity Opportunity Fund - Series 4: 1,74,216 shares (₹9.99 crore)
10. Tata AIG General Insurance Company Limited: 17,42,160 shares (₹99.99 crore)
11. Carnelian Bharat Amritkaal Fund: 8,71,080 shares (₹49.99 crore)
12. Malakshmi Trust: 2,61,324 shares (₹14.99 crore)
13. ARA Investments: 1,74,216 shares (₹9.99 crore)
14. Go Digit General Insurance Limited: 4,35,540 shares (₹24.99 crore)
15. Akash Manek Bhanshali: 34,84,320 shares (₹199.99 crore)
16. Hara Global Capital Master Fund I Ltd: 17,42,160 shares (₹99.99 crore)
17. Dymon Asia Multi-Strategy Investment (Singapore) Pte. Ltd: 4,35,540 shares (₹24.99 crore)
18. Alrox Enterprises Private Limited: 8,71,080 shares (₹49.99 crore)
19. Bennett Coleman & Co Ltd: 8,71,080 shares (₹49.99 crore)
20. Supriyata Private Limited: 4,35,540 shares (₹24.99 crore)
21. Pulkit Benefit Trust: 12,19,512 shares (₹69.99 crore)
22. Vaidehi Somani: 5,22,648 shares (₹29.99 crore)
23. Clarus Capital I: 17,42,160 shares (₹99.99 crore)
24. Anand Rathi Global Finance Limited: 5,22,648 shares (₹29.99 crore)
25. Capri Global Ventures Private Limited: 4,35,540 shares (₹24.99 crore)
26. Virgin Securities and Credits Private Limited: 8,71,080 shares (₹49.99 crore)
27. Emerging Securities Private Limited: 4,35,540 shares (₹24.99 crore)
28. Prudent Corporate Advisory Services Limited: 4,35,540 shares (₹24.99 crore)
29. Narantak Dealcomm Limited: 4,35,540 shares (₹24.99 crore)
30. Smita Conductors Private Limited: 4,35,540 shares (₹24.99 crore)
Financial Impact
- Aggregate consideration: ₹1,655.00 crores
- Percentage of SBI Group reserves and surplus: 0.59%