The country’s largest mutual fund – SBI Mutual Fund (MF) – looks set to become the next mutual fund to get listed on the stock exchanges.
According to exchange disclosure by State Bank of India (SBI), the executive committee of its central board has given its approval to sell 6 percent stake in the fund house in the IPO.
The mutual fund’s JV partner Amundi, which is a French asset manager, also said on December 15, 2021, that it intends to sell 4% stake in the IPO.
Once the IPO is launched after regulatory approvals, it will make the fund house the fifth fund house to get listed on the bourses.
SBI MF manages Rs 5.78 lakh worth of investor assets. SBI holds 62.6 percent stake in the fund house, while Amundi holds 36.8 percent stake.