Group 1 - SBI Funds Management is preparing to file its draft red herring prospectus (DRHP) for an initial public offering (IPO) worth between ₹12,000-13,000 crore, which is over $1 billion [1][7] - The IPO is expected to be an offer for sale (OFS), allowing existing shareholders to reduce their stakes while raising growth capital for the business [2][7] - SBI Funds Management is a joint venture between State Bank of India, holding a 63% stake, and Amundi, which owns nearly 37%, with total assets exceeding ₹12.5 lakh crore [7] Group 2 - Manipal Hospitals, backed by Temasek, is estimated to file its DRHP for an IPO valued at ₹9,000-11,000 crore, expected to be submitted as early as this month [1][7] - The IPO for Manipal Hospitals is likely to include a mix of fresh equity issuance and an OFS component, facilitating partial exits for existing investors while raising capital for growth [2][7] - The investment banks involved in the SBI Funds issue include Bank of America, HSBC, and Kotak Mahindra Capital, among others [1][7]
Mega IPO Wave: SBI Funds and Manipal Hospitals ready DRHP filings
The Economic Times·2026-03-20 00:06