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SBI Mutual Fund gets SEBI nod for ₹13,000cr IPO
20 Jun 2026

SBI Mutual Fund, India's leading asset management company, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), according to PTI.

The proposed IPO is entirely an offer for sale (OFS) of up to 20.37 crore equity shares, as per the draft red herring prospectus (DRHP) filed in March.

The promoters, State Bank of India (SBI) and Amundi India Holding, will pare their stakes through this offering.

IPO likely to hit the market next month
IPO details

The asset management company is estimated to be valued at around ₹13,000 crore through its public issue. The IPO is likely to hit the market next month.

Once listed, SBI Funds Management Ltd (SBIFML) will join other listed asset management companies, such as ICICI Prudential AMC and HDFC AMC.

SBIFML is a joint venture between SBI and Paris-based Amundi, with respective stakes of 61.98% and 36.40%.

India's largest asset management firm
Market leadership

SBIFML is India's largest asset management firm, boasting a quarterly average assets under management (QAAUM) of nearly ₹12.5 lakh crore as of December 2025.

SBI Mutual Fund, sponsored by SBI and established in 1987, was the first non-UTI mutual fund in India.

A consortium of merchant bankers including Kotak Mahindra Capital, Axis Capital, BofA Securities India, among others, has been appointed to manage the IPO issue.