Kolkata: Despite the tepid IPO market in 2026, SBI Mutual Fundsis proceeding with the launch of a big IPO. According to reports, SBI Funds Management,
the holding company, is preparing to hit the market within the next two months. Senior officials of SBI MF are engaged in meetings with the country’s top 20 asset managers to ensure strong investment support for the public issue and the anchor book. The primary market is lackluster this year with just 20 mainboard listings in 2026 so far. Though it was expected that there will be a record number of IPOsby Indian companies to mobilise record amount of capital, many companies are hesitant to hti the market, thanks to the bearish sentiments among the investors. The SBI MF issue could offer a booster for the depressed sentiment. SBI MF is a joint venture between India’s largest bank SBI and France-based financial house Amundi. The IPO could hit the market in the first week of July this year. The draft papers or draft red herring prospectus was submitted in mid-March and it is waiting green light from market regulator Sebi.
Highlights of SBI MF IPO
Size of the issue: About Rs 13,000 crore
Shareholding pattern: State Bank of India holds 61.9% stake in SBI Funds, Amundi holds 36.4% stake
Total assets (AUM): Assets Under Management more than Rs 12.5 lakh crore
Demand surges in grey market
As the preparations for the public issue gathers pace, the demand for SBI Funds shares is rising in the grey market. Reports stated last week SBI MF shares were trading at Rs 760–770 and the company’s valuation reaches about Rs 1.55 lakh crore. Significantly, the valuatin figure is close to that of its rivals which are already listed. ICICI Prudential AMC has a market cap of Rs 1.58 lakh crore, while HDFC AMC has a market cap of Rs 1.16 lakh crore. ICICI Mf and HDFC MF are the country’s nsecond and third largest AMCS in the country.
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