CAM, Linklaters, S&R, Clearly Gottlieb, SAM, Hogan Lovells, act on SBI Funds Management IPO

CAM, Linklaters, S&R, Clearly Gottlieb, SAM, Hogan Lovells, act on SBI Funds Management’s proposed IPO

Cyril Amarchand Mangaldas has acted as the Indian counsel to SBI Funds Management in the DRHP filing with SEBI for its IPO, while Linklaters acted as international legal counsel for the issuer company. Shardul Amarchand Mangaldas & Co. and Hogan Lovells acted as the domestic and international counsel to the BRLMs on this transaction. S&R Associates and Cleary Gottlieb advised Amundi and Indian and US counsel respectively.

The IPO entirely comprises an offer for sale by promoter shareholders including SBI and Amundi Indian Holding. CAM has advised SBI on this transaction.

SBI Funds Management filed the DRHP on 19 March. It is the largest asset management company in India and is a joint venture between State Bank of India and Amundi. This is anticipated to be one of the largest financial sector IPOs in 2026.

The book running lead managers include Kotak Mahindra Capital, Axis Capital, BOFA Securities, HSBC Securities & Capital Markets, ICICI Securities, Jefferies, JM Financial, Motilal Oswal Investment and SBI Capital Markets.

CAM’s transaction team is being led by senior partner Yash Ashar, partner (regional co-head - capital markets - west) Devaki Mankad, with support from principal associate Rushab Dhandokia, senior associate Tanushri More and associates Hitesh Nagpal, Aniruddh Saraswat, Khushi Parekh, Pooja Rajawat, Aria Sheth, Chinmay Jumde, Neelanshi Gupta.

Partner Anshul Roy with support from senior associate Vartika Bhatnagar and associates Anuj Gupta and Janhavi Deshmukh represented SBI Bank, one of the promoters of SBI Funds Management.

Linklaters’ team is being led by partner and head of India Practice Amit Singh.

SAM's transaction team is being led by National practice head - capital markets Prashant Gupta and partner Krupa Brahmbhatt, with support from principal associate Tarun Srikant and associates Shivang Agarwal, Gayathri Krishnan, Rudraksh Karnik, Shabri Bose and Anshika Tyagi.

Hogan Lovells’ capital markets team was led by head of India practice and Dubai office managing partner Biswajit Chatterjee, with support from counsels Varun Jetly and Kaustubh George; and senior associates Aditya Rajput and Aditya Dsouza.