16 April 2025
SBI Mutual Fund (SBI MF) is back in the spotlight, generating excitement on Dalal Street. After postponing plans in 2022 due to global market volatility and geopolitical tensions, the largest asset management company in India is now expected to enter the markets in the first half of FY 2025-26. The SBI Mutual Fund IPO could become the largest IPO in the Indian mutual fund sector. In December 2021, SBI announced that it would dilute a 6% stake in SBI MF, while Amundi would offload 4%. The IPO was projected to raise around USD 1 billion (approximately INR 8,610 crore). However, Russia’s invasion of Ukraine in early 2022 and the resulting market turmoil caused these plans to be put on hold.
Speaking at a national banking summit in November 2022, SBI Chairman Dinesh Kumar Khara stated, "There is no plan to list SBI Mutual Fund for now." However, that statement seems obsolete as plans for the IPO were revived in 2025. This renewed effort comes at a time when SBI Mutual Fund is performing strongly. As of December 31, 2024, the company's assets under management (AUM) have increased to INR 11.16 lakh crore, up from INR 6.5 lakh crore when the IPO was initially considered. SBI MF has experienced a 5-year compound annual growth rate (CAGR) of 36% in net profit and a 27% CAGR in revenue, indicating enhanced operational efficiency and profitability.
Additionally, SBI MF’s systematic investment plan (SIP) book has tripled in size between FY 2019 and FY 2024. The company has also expanded its retail presence threefold during this period.
SBI Mutual Fund (SBI MF) is back in the spotlight, generating excitement on Dalal Street. After postponing plans in 2022 due to global market volatility and geopolitical tensions, the largest asset management company in India is now expected to enter the markets in the first half of FY 2025-26. The SBI Mutual Fund IPO could become the largest IPO in the Indian mutual fund sector. In December 2021, SBI announced that it would dilute a 6% stake in SBI MF, while Amundi would offload 4%. The IPO was projected to raise around USD 1 billion (approximately INR 8,610 crore). However, Russia’s invasion of Ukraine in early 2022 and the resulting market turmoil caused these plans to be put on hold.
Speaking at a national banking summit in November 2022, SBI Chairman Dinesh Kumar Khara stated, "There is no plan to list SBI Mutual Fund for now." However, that statement seems obsolete as plans for the IPO were revived in 2025. This renewed effort comes at a time when SBI Mutual Fund is performing strongly. As of December 31, 2024, the company's assets under management (AUM) have increased to INR 11.16 lakh crore, up from INR 6.5 lakh crore when the IPO was initially considered. SBI MF has experienced a 5-year compound annual growth rate (CAGR) of 36% in net profit and a 27% CAGR in revenue, indicating enhanced operational efficiency and profitability.
Additionally, SBI MF’s systematic investment plan (SIP) book has tripled in size between FY 2019 and FY 2024. The company has also expanded its retail presence threefold during this period.
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