SBI Mutual Fund's $1.5 Billion IPO Filing Expected by Mid-March via Confidential Route
SBI Mutual Fund's $1.5 Billion IPO Filing by Mid-March

SBI Mutual Fund's $1.5 Billion IPO Filing Expected by Mid-March via Confidential Route

Mumbai: SBI Mutual Fund, India's largest fund house, is poised to file its offer document for a $1.5 billion (approximately Rs 13,500 crore) initial public offering (IPO) by mid-March, according to sources. The filing is anticipated to utilize the confidential route, allowing for a discreet submission process that aligns with regulatory frameworks.

Stake Sale and Shareholder Quotas in the SBIMF Offer

In this significant offering, shareholders and employees of the State Bank of India (SBI) will have a designated quota. The two primary sponsors of the fund house, SBI and Amundi of France, are set to divest 6.3% and 3.7% stakes, respectively. This move aims to unlock value and provide liquidity to stakeholders while expanding the fund's market presence.

Management Consortium for the Offering

A consortium of leading financial institutions has been appointed to manage the IPO, ensuring a robust execution. The managing entities include:

  • Kotak Mahindra Capital
  • Axis Capital
  • SBI Capital Markets
  • Motilal Oswal Investment Advisors
  • ICICI Securities
  • JM Financial
  • HSBC Holdings
  • Jefferies
  • Bank of America

This diverse team brings extensive expertise in capital markets, underlining the strategic importance of the offering.

Context of Recent Fund House Listings

The IPO landscape for mutual funds in India has seen notable activity in recent years. In 2025, two fund houses—ICICI Prudential and Canara Robeco—were successfully listed on the bourses. Additionally, over the past few years, several other major players have gone public, including:

  1. HDFC Mutual Fund
  2. Nippon Life India Mutual Fund
  3. Aditya Birla Sun Life Mutual Fund
  4. UTI Mutual Fund

This trend reflects a growing appetite for mutual fund investments and market expansion.

Market Capitalization Rankings Among Listed Fund Houses

In terms of market capitalization, ICICI Prudential Mutual Fund leads with a valuation of Rs 1.5 lakh crore, followed closely by HDFC Mutual Fund at Rs 1.2 lakh crore. These figures highlight the competitive dynamics and investor confidence in the sector, setting a benchmark for SBI Mutual Fund's upcoming listing.

The IPO filing marks a pivotal moment for SBI Mutual Fund, potentially enhancing its visibility and capital base in a rapidly evolving financial market.