SBI Reaches an Important Market Milestone
State Bank of India has crossed the $100 billion market capitalization mark, the sixth Indian company to achieve this level. It is also the first public sector bank in India to achieve this level of market capitalization.
The stock of SBI rose 1.47% on Thursday to a record high of Rs. 971.15 on BSE, which translates into a market value of around Rs. 8.96 lakh crore (over $100 billion).
At the close of the market, the share price finished at Rs. 960.75, which pared the valuation by a shade to Rs. 8.86 lakh crore but ensured that the bank remained over the $100-billion threshold.
Other Indian Companies in the $100 Billion Club
SBI now joined the five other major Indian corporations with market values over $100 billion:
- Reliance Industries
- HDFC Bank
- Bharti Airtel
- Tata Consultancy Services, TCS
- ICICI Bank
SBI Funds Management IPO Expected in 2026
SBI announced plans to list its subsidiary, SBI Funds Management Limited (SBIFML), through an Initial Public Offering in 2026.
The bank has approved the sale of 6.3% of its stake, that is, 3.20 crore shares, in SBIFML through the IPO.
The other promoter, Amundi India Holding, will also offload 3.7% of its stake, or 1.88 crore shares. In all, 5.08 crore shares, or 10% of SBIFML’s total equity, will be offered to the public. Currently, SBI holds 61.91 per cent and Amundi India Holding holds 36.36 per cent in the joint venture. The IPO would help bring diversity in ownership and simultaneously give investors an opportunity to participate in one of India's leading fund management companies.
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