SBI Funds Management secures $1.2 billion IPO backing from ADIA and GIC

India's largest asset manager values its joint venture at $12.3 billion as sovereign wealth funds anchor the listing, signaling robust appetite for Indian financial assets.

By Handelsavisen Newsroom · Automated 2026-07-07 09:54 UTC · 1 min read Last updated: 2026-07-07 12:34 UTC

SBI Funds Management, India's largest asset management company, has secured commitments from the Abu Dhabi Investment Authority (ADIA) and Singapore's GIC for its initial public offering.

The $1.2 billion listing values the joint venture at approximately $12.3 billion, according to sources familiar with the matter.

The deal involves a collective 10% stake sale by existing shareholders State Bank of India (SBI) and Amundi.

The deal involves a collective 10% stake sale by existing shareholders State Bank of India (SBI) and Amundi.

The participation of two of the world's largest sovereign wealth funds underscores strong institutional confidence in the Indian asset management sector, even as global markets navigate shifting liquidity conditions.

This development arrives as the Indian IPO market experiences a significant resurgence.

Investment bankers are currently organizing roadshows for a record pipeline of major listings, suggesting that investor appetite for emerging-market equities remains resilient.