• Business News
  • Insurance
  • Saving
  • Share Market 5Paisa
  • Loan
  • Mutual Funds
  • Investment
    • हिन्दी
    • తెలుగు
    • मराठी
    • বাংলা
    • ગુજરાતી
    • ಕನ್ನಡ
  • Close
  • Daily Show
    • 2+2=5
    • Take it Easy
    • Red Alert
    • Formula Guru
    • Money Gyan
    • Money Central
    • Money time
    • Jhatpat
  • Weekly Show
    • Money Comics
    • Economicom
    • Realty Check
    • Smile and pay
    • Money Tales
    • Spend Wise
    • Companynama
  • Insurance
  • Savings
  • Share Market 5Paisa
  • Loan
  • Crypto coindcx
  • Investment
  • Mutual Funds
  • Real Estate
  • Tax
  • Exclusive
  • Home » News » Banking » SBI approves 6% stake sale in mutual fund

SBI approves 6% stake sale in mutual fund

Currently, SBI holds 63% stake in SBIFMPL and the 37% stake is held by AMUNDI Asset Management through a wholly-owned subsidiary, Amundi India Holding

  • Team Money9
  • Publish Date - December 15, 2021 / 12:08 PM IST
SBI approves 6% stake sale in mutual fund
However, the bank's regulatory filing did not clarify if its foreign partner is also diluting stake in the asset management company. 

State Bank of India said it has received board approval for selling its 6% stake in SBI Mutual Fund through the Initial Public Offering (IPO) route on Wednesday.

The central board’s executive committee has accorded approval for exploring possibilities to offload 6% stake of the bank in SBI Funds Management Private Limited through IPO route, SBI said in an early morning regulatory filing.

AMUNDI picked up 37%

It added that this is subject to receipt of all regulatory approvals. SBI Funds Management Pvt Ltd (SBIFMPL) is a joint venture between SBI and AMUNDI (France), one of the world’s leading fund management companies.

AMUNDI Asset Management picked up 37% stake in the fund house in April 2011, according to SBI Mutual Fund website.

Currently, SBI holds 63% stake in SBIFMPL and the 37% stake is held by AMUNDI Asset Management through a wholly-owned subsidiary, Amundi India Holding.

However, the bank’s regulatory filing did not clarify if its foreign partner is also diluting stake in the asset management company.

Initially, this 37 % holding was held by Societe Generale Asset Management SA, a subsidiary of Societe Generale SA, which was transferred to Amundi in June 2011, with due approval of SEBI.

Download Money9 App for the latest updates on Personal Finance.

follow us

  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Youtube
  • Instagram

also read

  • 7 factors NRIs Must Consider Before Availing A Home Loan

    7 factors NRIs Must Consider Before Availing A Home Loan

  • Which one to choose? A bank or housing finance company for home loan

    Which one to choose? A bank or housing finance company for home loan

Read more news on

  • AMUNDI
  • Banking
  • banks
  • SBI
  • SBI Mutual Funds

Latest Video

SEE MORE
TV9 Network and Money9 Presents Financial Freedom Summit

TV9 Network and Money9 Presents Financial Freedom Summit

Updated: March 15, 2023
Is the government asking us to save or not to save, that's the question! | Union Budget 2023 |  Money9 English

Is the government asking us to save or not to save, that’s the question! | Union Budget 2023 | Money9 English

Updated: February 2, 2023
Dear Finance Minister, getting a job or an admission in a good college is difficult, please help

Dear Finance Minister, getting a job or an admission in a good college is difficult, please help

Updated: January 31, 2023
Dear Finance Minister, will savings schemes get a makeover this Budget 2023?

Dear Finance Minister, will savings schemes get a makeover this Budget 2023?

Updated: January 30, 2023
A pensioner airs his grievances in front of Finance Minister ahead of upcoming Union Budget 2023

A pensioner airs his grievances in front of Finance Minister ahead of upcoming Union Budget 2023

Updated: January 27, 2023
A contractual government employee writes open letter to Finance Minister giving suggestions on Budget 2023

A contractual government employee writes open letter to Finance Minister giving suggestions on Budget 2023

Updated: January 25, 2023
A disappointed homebuyer writes open letter to Finance Minister failure giving suggestions for Budget 2023

A disappointed homebuyer writes open letter to Finance Minister failure giving suggestions for Budget 2023

Updated: January 25, 2023
A gig worker writes open letter to Finance Minister ahead of Union Budget 2023

A gig worker writes open letter to Finance Minister ahead of Union Budget 2023

Updated: January 24, 2023
Open in App

Related

  • Parameters to consider when comparing personal loans

    Parameters to consider when comparing personal loans

  • How does gold loan help in influencing your credit score? 

    How does gold loan help in influencing your credit score? 

  • Which one to choose? A bank or housing finance company for home loan

    Which one to choose? A bank or housing finance company for home loan

  • Back to Basics: Way forward for Indian Banks

    Back to Basics: Way forward for Indian Banks

  • Time to bank on banks?

    Time to bank on banks?

  • HDFC bank witnesses 17% growth YoY

    HDFC bank witnesses 17% growth YoY

More

  • How beneficial and economical is purchasing an electric vehicle?
    Tax

    Let Govt Fund Part Of Your Car!

  • Tata ends talks with Bisleri
    Bulletin

    Tata ends talks with Bisleri

  • Know the correct strategy of paying credit card dues!
    Savings

    Know the correct strategy of paying credit card dues!

  • Which is better active or passive fund?
    Mutual Funds

    Which is better active or passive fund?

  • Who should opt for Multi-Year Health Policy?
    Insurance

    Who should opt for Multi-Year Health Policy?

  • TV9 Sites

  • TV9 Hindi
  • TV9Telugu.com
  • TV9 Marathi
  • TV9 Gujarati
  • TV9 Kannada
  • TV9 Bangla
  • News9 Live
  • Know this india
  • Money9 Sites

  • Money9 Hindi
  • Money9 English
  • Money9 Marathi
  • Money9 Telugu
  • Money9 Gujarati
  • Money9 Kannada
  • Money9 Bangla
  • Topics

  • Insurance
  • Savings
  • Loan
  • Stocks
  • Mutual Funds
  • Real Estate
  • Tax
  • Crypto
  • Exclusive
  • Daily Shows

  • 2+2=5
  • Take it Easy
  • Red Alert
  • Formula Guru
  • Money Gyan
  • Money Central
  • Jhatpat
  • Money time
  • Weekly Shows

  • Money Comics
  • Economicom
  • Realty Check
  • Smile and pay
  • Money Tales
  • Companynama
  • Spend Wise
  • Follow us

  • FaceBook
  • Twitter
  • Youtube
  • Instagram
  • Linkedin
  • Download App

  • Andorid
  • ios
  • Contact Us
  • About Us
  • Advertise With Us
  • Privacy & Cookies Notice
  • Complaint Redressal
  • Copyright © 2022 Money9. All rights reserved.