SBI Funds Management

Adds company comments in paragraph 8, AUM in paragraph 9

Aug 3 (Reuters) - India's SBI Funds Management SBIA.NS reported a 3.7% rise in first-quarter profit on Monday, helped by robust domestic capital inflows, in its first earnings report since going public in July.

The company posted a consolidated net profit of 8.8 billion rupees ($92.30 million) for the quarter ended June 30, up from 8.49 billion rupees a year earlier.

Domestic inflows into equity mutual funds remained strong as steady retail participation supported both the market and asset management companies, even as foreign investors continued to sell Indian equities.

More attractive valuations after the January-March market decline and expectations of an earnings recovery in the second half of the year have helped drive inflows, according to analysts.

SBI Funds Management is a joint venture between State Bank of India SBI.NS, the country's largest lender, and Amundi AMUN.PA, Europe's biggest asset manager. It attracted $31 billion worth of bids for its $1.3 billion IPO, making it India's fourth-most-subscribed issue. The company's shares have dropped 4% since its listing.

Its consolidated revenue from operations rose around 15% year-on-year to 11.53 billion rupees.

However, other income, which includes gains on the company's financial investments and investment income, declined nearly 28%.

"..robust performance during the quarter, supported by healthy flows across equity and passive strategies, continued SIP momentum, expanding retail participation..," the company said in a statement.

SBI Funds' quarterly average assets under management (QAAUM) for mutual funds grew 11% year-on-year, and actively managed equity QAAUM rose 10%.

Last month, peers ICICI Prudential AMC IICL.NS and HDFC AMC HDFA.NS reported a 23% and 12% rise in first-quarter profit, respectively, helped by strong equity inflows.

($1 = 95.3375 Indian rupees)

(Reporting by Nishit Navin; Editing by Sherry Jacob-Phillips and Janane Venkatraman)

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By Mathieu Rosemain

PARIS, July 30 (Reuters) - Amundi AMUN.PA on Thursday reported net inflows of €24.4 billion in the second quarter, double forecasts, and posted record quarterly earnings as Europe's largest fund manager benefited from buoyant markets.

Adjusted net income at the Credit Agricole-backed firm rose 29% year-on-year to €431 million ($492.03 million) in the second quarter, above a company-compiled consensus of €375 million.

Net inflows for the quarter were driven by strong demand for index-tracking and fixed-income funds as well as steady retail investment through third-party distributors.

Assets under management climbed 14% year-on-year to a record €2.58 trillion at the end of June, helped by market and currency gains and the first-time consolidation of British private credit firm ICG.

While Amundi is the biggest Europe-based fund manager, it is far smaller than American behemoths such as BlackRock and Vanguard, which are fierce competitors including on its home turf.

In a call with reporters, Chief Executive Valerie Baudson highlighted the IPO of Indian joint venture SBI Funds Management, valued at more than €10 billion at its listing, as a quarterly highlight.

Amundi expects the listing to yield a capital gain of around €300 million in the third quarter.

Looking forward to the second half of the year, Baudson cautioned that market valuations remain elevated.

"A point of attention (is) the level of markets, which are objectively high today," she said, while voicing "very strong confidence" in Amundi's ability to navigate a potentially more turbulent environment in the months ahead.

($1 = 0.8760 euros)

(Reporting by Mathieu Rosemain; Editing by Tommy Reggiori Wilkes)

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Updates with comments from company and IPO details

By Rishika Sadam and Vivek Kumar M

July 24 (Reuters) - India's Manipal Health Enterprises MNIA.NS plans to spend 40 billion rupees ($414.38 million) to increase its bed capacity by over 18% in the next few years, a company executive said on Friday, ahead of the launch of the hospital chain operator's IPO next week.

The Temasek-backed company, one of India's largest hospital chain operators, plans to add 2,400 beds to its existing 13,037 capacity within three to four years, Dilip Jose, managing director and CEO at Manipal Health Enterprises, said in a press conference.

The Bengaluru-based chain operates 49 hospitals across India and competes with the likes of Apollo Hospitals Enterprise APLH.NS, Max Healthcare MAXE.NS, and Fortis Healthcare FOHE.NS.

The company is also targeting a valuation of up to $8 billion for its $960.4 million IPO, India's second-largest primary market offering this year after SBI Funds Management's SBIA.NS $1.03 billion issue earlier this month.

Manipal Health plans to issue new shares worth $828.4 million in the IPO. Existing investors including Temasek's unit Imperius Healthcare Investments and TPG Capital will offload shares worth $132 million.

The hospital chain operator said it expects to turn net debt-free with the help of the IPO proceeds.

Anchor investors can bid for Manipal Health's shares by July 28. Public subscription will be open from July 29 to July 31.

($1 = 96.5725 Indian rupees)

(Reporting by Vivek Kumar M in Bengaluru and Rishika Sadam in Hyderabad; Editing by Mrigank Dhaniwala, Sherry Jacob-Phillips and Sonia Cheema)

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Updates with closing levels

By Vivek Kumar M

July 21 (Reuters) - SBI Funds Management SBIA.NS ended 6.2% higher in its stock market debut on Tuesday, valuing the firm at nearly $13 billion, as investors bet on growth in the country's $853 billion asset management industry.

Shares of India's largest asset manager closed at 609.75 rupees, valuing the firm at 1.24 trillion rupees ($12.89 billion) and making it the country's second-most valuable listed fund manager.

Peers ICICI Prudential Asset Management Company IICL.NS and HDFC Asset Management Company HDFA.NS were valued at 1.56 trillion rupees and 1.11 trillion rupees, respectively.

SBI Funds, a joint venture between State Bank of India SBI.NS, the country's largest lender, and Amundi AMUN.PA, Europe's biggest asset manager, oversaw assets worth 12.5 trillion rupees as of March 2026.

SBI Funds' $1.03 billion IPO, India's biggest so far this year, attracted about $31 billion of bids last week, including $278.5 million from anchor investors such as BlackRock and sovereign wealth funds from Singapore, Abu Dhabi and Norway.

Amundi CEO Valerie Baudson said the European firm will remain a long-term shareholder of SBI Funds.

The listing marks the start of a busier second half for large IPOs in India's primary market after the activity slowed due to a surge in crude prices linked to the Iran conflict.

SBI Funds listed short of expectations as analysts had estimated debut gains of 12% to 13%.

India's Nifty 50 .NSEI fell 0.2% on Tuesday, weighed down by firmer crude oil prices as the Gulf conflict escalated.

Analysts led by Emkay Global Financial Services' Avinash Singh said India's growing middle class was embracing mutual funds, positioning SBI AMC to expand its dominance in the sector.

India has seen IPOs worth about $5 billion so far in 2026, below a record $21.8 billion last year, LSEG-compiled data showed.

Some 251 companies, including Reliance Jio and the National Stock Exchange of India, are in the IPO pipeline, seeking to raise 4.93 trillion rupees, according to capital market data provider PRIME Database.

($1 = 96.2350 Indian rupees)

(Reporting by Vivek Kumar M, additional reporting by Mathieu Rosemain in Paris; Editing by Sherry Jacob-Phillips)

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