SBI MF IPO: India’s largest mutual fund house SBI Mutual Fund, engaged in preparations for the launch of mega IPO and raising capital up to $1 billion, has selected a syndicate of seven investment banks for this work. Moneycontrol has received this information by quoting several sources. The Average Asset Under Management (AUM) of SBI Mutual Fund as of December 2021 stood at Rs 6.2 lakh crore monthly.
Equity mutual funds recorded strong inflows of Rs 14,887 crore in January, which included contribution of Rs 11,517 crore to mutual funds by systematic investment plans (SIPs) for the month.
Secondary sale of shares may be proposed IPO
A source said, “SBI considers SBI MF as its gem and is looking to unlock its value through listing. The proposed IPO could be a purely secondary sale of shares, in which SBI is looking to sell its 6 per cent stake and Amundi 4 per cent. SBI MF is a joint venture between SBI and Amundi Asset Management, a leading French insurance company.
Vedant Fashions IPO: Manyavar Shares Listed Today, Chances of Listing Below Issue Price
Rs 10,354 crore was raised from SBI Cards IPO
If the listing plans of SBI Mutual Fund are successful, then it will be the five domestic mutual funds to debut on Dalal Street. Prior to this, HDFC Asset Management, UTI Asset Management Company, Nippon Life India Asset Management and Aditya Birla Sun Life AMC have been listed. SBI had earlier got the listing of SBI Cards and Payment Services done in March 2020. This listing took place just before the onset of the COVID-19 epidemic and through this about Rs 10,354 crore was raised.
SBI MF launches multi-cap scheme, should you invest?
The names of these 7 investment banks are final
Another source with knowledge of SBI Mutual Fund’s listing plans said, “As of now there are plans to raise up to $1 billion through IPO, however the final decision has not been taken yet and the size may differ at a later stage.” Is. The company has selected investment banks BofA Securities, Citi, HSBC Securities, Axis Capital, Kotak Mahindra Capital, SBI Capital and BNP Paribas for the IPO.
,