Cyril Amarchand Mangaldas (CAM), Hogan Lovells, Linklaters, Shardul Amarchand Mangaldas & Co, S&R Associates and Cleary Gottlieb Steen & Hamilton are advising on SBI Funds Management’s proposed USD1.5 billion initial public offering in India.
The offering is expected to be one of the largest financial-sector IPOs in India in 2026 and involves the promoters, State Bank of India and Amundi India, offering 203.7 million shares for sale.
CAM counselled SBI Funds Management on India law and Linklaters is acting as international legal counsel. CAM senior partner Yash Ashar and partner Devaki Mankad led the transaction team, with the assistance of principal associate Rushab Dhandokia, senior associate Tanushri More, as well as associates Hitesh Nagpal, Aniruddh Saraswat, Khushi Parekh, Pooja Rajawat, Aria Sheth, Chinmay Jumde and Neelanshi Gupta.
Additionally, CAM partner Anshul Roy – with the support of senior associate Vartika Bhatnagar as well as associates Anuj Gupta and Janhavi Deshmukh – represented promoter State Bank of India.
Hogan Lovells is acting as international legal counsel and Shardul Amarchand Mangaldas & Co is advising on India laws for the lead managers — Kotak Mahindra Capital, Axis Bank, BofA Securities, HSBC, ICICI Securities, Jefferies, Motilal Oswal Investment Advisors, JM Financial and SBI Capital Markets.
The Hogan Lovells capital markets team is led by head of the India practice and managing partner of the Dubai office Biswajit Chatterjee, with support from counsel Varun Jetly and Kaustubh George, as well as senior associates Aditya Rajput and Aditya Dsouza.
For promoter Amundi India, S&R Associates is advising as Indian counsel and Cleary Gottlieb Steen & Hamilton is acting as US counsel.
