Core Viewpoint - SBI's subsidiary, SBI Funds Management, has filed a draft red herring prospectus (DRHP) with Sebi for an IPO of up to 20.37 crore equity shares, which will be an offer for sale, meaning proceeds will go directly to shareholders and not to the company [1][6]. Group 1: IPO Details - The IPO will consist of 20.37 crore equity shares, with SBI selling 12.83 crore shares (6% stake) and Amundi India Holding selling 7.53 crore shares [1][6]. - The total issue size in rupee terms and the price band have not yet been disclosed [6]. Group 2: Company Overview - SBI Funds Management is the largest asset management company (AMC) in India, holding a 15.4% market share by QAAUM and managing average assets under management (AUM) of Rs 6.06 lakh crore [2][6]. - As of December 2025, SBI Funds Management served over 1.6 crore unique investors [2][6]. - SBI holds a 61.86% stake in SBI Funds Management, while Amundi Asset Management holds a 36.33% stake through a wholly owned subsidiary [2][6]. Group 3: Market Performance - SBI shares have gained 2% in the past five days but have fallen more than 11% in the past month, with a 26% increase over the past six months [5][6]. - For the October-December quarter of the financial year 2026, SBI reported a standalone net profit increase of 24% YoY to Rs 21,028 crore and a net interest income (NII) increase of 9% YoY to Rs 45,190 crore [5][6].