SBI Mutual Fund IPO: The country’s largest mutual fund house will bring IPO to raise Rs 7,500 crore, know details

The country’s largest mutual fund house SBI Mutual Fund Company (SBI Mutual Fund) is preparing to launch an IPO to raise Rs 7,500 crore from the primary market. This IPO of SBI Mutual Fund will be the largest IPO in the mutual fund industry. According to a Bloomberg report, SBI Mutual Fund will discuss with its board of directors and shareholder company Amundi Asset Management to prepare a proposal for investment bankers.

This report states that the company will start the process of getting an IPO in the next one to two months. Let us tell you that the asset under management (AUM) of SBI Mutual Fund is more than Rs 5 lakh crore. Government money comes from 40% of its total AUM. The exact figure of how many crore IPO will be done by the company, will be known after the AUM of March. Let us tell you that the valuation of SBI Mutual Fund is currently $ 7 billion i.e. 52 thousand crore rupees.

Mutual fund will have its fourth IPO

So far, 4 companies of SBI have been listed in the stock market. This includes SBI Home Finance, SBI Life Insurance, SBI Card and Payment and SBI itself. This IPO of SBI Mutual Fund will be the fourth public issue of the mutual fund industry. Earlier, IPOs of HDFC Mutual Fund, Nippon Mutual Fund and UTI AMC have been listed.

Nippon Mutual Fund first raised Rs 1542 crore in 2017. Subsequently, in 2018, HDFC Mutual Fund raised Rs 2800 crore through an IPO. Whereas, last year UTI AMC raised Rs 1542 crore through it.