New Delhi, Jan. 28 -- SBI Funds Management, India's largest asset manager, is expected to file its draft prospectus for an initial public offering (IPO) with the market regulator by mid-February, with a listing likely by April, said three people aware of the discussions.

Investment bankers have made presentations and pitched for an IPO of $1.2 billion-1.4 billion, valuing the company at $12 billion-14 billion, they said. SBI Funds Management is a joint venture between India's largest lender State Bank of India (SBI) and French asset manager Amundi. While SBI holds a 61.9% stake, and Amundi 36.4%, the remaining is held by employees and other individuals.

In November, SBI and Amundi announced their decision for a public listing in 2026, s...