SBI Fund Management Unlisted Shares
SBI Mutual Fund – Eyes March Deadline for ₹13,000 Crore IPO DRHP Filing
NDTV Profit
2 min read
Expert Analysis:
SBI Fund Management Ltd, India’s largest asset manager, is racing to file its Draft Red Herring Prospectus (DRHP) by the end of March for its planned ₹13,000 crore IPO. Missing this deadline could trigger audit delays and require updated financial statements, potentially postponing the listing timeline.
The proposed IPO is structured entirely as an Offer for Sale (OFS), meaning the company itself will not receive any fresh capital from the issue.
State Bank of India plans to sell about 6.3% of its stake, which could generate over ₹8,000 crore, while joint-venture partner Amundi Asset Management is expected to trim part of its holding worth nearly ₹5,000 crore.
The IPO aims for a valuation of around ₹1.3 lakh crore, implying a price-to-earnings multiple of roughly 51x, slightly higher than peer ICICI Prudential AMC.
To manage the offering, the company has appointed nine merchant bankers including Bank of America, HSBC, and Kotak, while aiming to cap IPO expenses at about ₹75 crore.
Key Takeaway:
SBI Mutual Fund’s proposed ₹13,000-crore OFS IPO—targeting a ₹1.3 lakh crore valuation—faces a critical March DRHP filing deadline, as delays could trigger additional audit requirements and push back the listing timeline.
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