India’s largest mutual fund house, SBI Funds Management Ltd (SBIFML), has received approval from the Securities and Exchange Board of India (SEBI) to launch its much-awaited initial public offering (IPO). The listing will involve a partial stake divestment by State Bank of India and its joint venture partner, France’s Amundi Asset Management, through an Offer for Sale (OFS). The move is expected to unlock significant value for shareholders, deepen public participation in India’s asset management sector, and mark one of the most anticipated financial market listings of 2025.