India’s largest mutual fund, SBI Mutual Fund, is gearing up for a massive ₹13,000 crore IPO, aiming to bring a part of its business to the stock market. The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), a key step toward making its shares publicly tradable.
Unlike many IPOs, this one is an offer-for-sale, meaning SBI and its French partner Amundi will sell a slice of their holdings instead of issuing new shares. SBI is expected to offload about 6.3 % of its stake, while Amundi will sell around 3.7 %, together totaling 10 % of the company. The proceeds will go entirely to the selling shareholders.
The IPO is expected to value SBI Mutual Fund between ₹1.3 lakh crore and ₹1.5 lakh crore, making it one of the largest public listings in India’s financial services sector. Analysts say it reflects growing investor interest in mutual funds and confidence in India’s booming asset management market.
SBI Mutual Fund manages huge pools of money, with assets under management running into lakhs of crore, and holds more than 15 % of the Indian market. Its wide network and trusted brand have made it a favorite among retail and institutional investors alike.
This IPO will be the third big listing from the SBI group, after SBI Life Insurance and SBI Cards & Payment Services went public successfully. Experts believe the listing could attract strong demand, especially from investors looking to gain exposure to India’s largest asset manager.
A mix of domestic and international banks will handle the IPO, which is now awaiting regulatory approvals.
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