As of now, three mutual fund companies are listed. There are Nippon, HDFC and UTI in the next financial year, many mutual fund companies can raise money from the market
Aditya Birla Mutual Fund, one of the top 5 mutual fund companies in the country, can make an Initial Public Offer (IPO). The company plans to raise Rs 2,500 crore through it. This will be the fourth mutual fund company to be listed on the stock market. However, earlier news was that SBI Mutual Fund will be the first list.
Birla’s AUM is 2.38 lakh crore rupees
The AUM of Aditya Birla Mutual Fund stood at Rs 2.38 lakh crore in the September quarter. It is the fourth largest company in terms of AUM. Let us know that till now Nippon Mutual Fund, HDFC Mutual Fund was listed. In the same month, UTI Mutual Fund has been listed on the stock market. Birla Mutual Fund will be the fourth company in the sector to launch an IPO. SBI Mutual Fund is the largest company based on Asset Under Management (AUM). It has an AUM of Rs 4.21 lakh crore.
HDFC raised Rs 2,800 crore
HDFC Mutual Fund raised Rs 2,800 crore through an IPO while UTI raised Rs 2,100 crore. According to the information, Birla Mutual Fund can raise Rs 2,500 crore from the IPO. Birla Mutual Fund is in a joint venture with Sun Life. Birla Group holds 51% stake in this while Sun Life holds 49%. The company has started talks with dozens of merchant bankers for an IPO.
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26.86 lakh crore is the industry’s AUM
According to data from the Association of Mutual Funds in India (ANFI), the AUM of the entire mutual fund industry stood at Rs 26.86 lakh crore in the September quarter. HDFC is second after SBI with an AUM of Rs 3.75 lakh crore. Explain that SBI Mutual Fund is also preparing for the IPO. While ICICI Prudential Mutual Fund may also launch an IPO after that. However, both these companies may launch IPOs in the next financial year.
In the first 9 months of this year, companies have raised a total of $ 2.1 billion from the IPO. This is 14.4% lower than a year ago. In this, financial services have raised more money.