SBI Mutual Fund listing off the focus, says chairman Dinesh Khara

IPO of SBI mutual fund ‘out-of-focus’, was intended to become public on 15 Dec 2021 for raising $1 billion.

Justification

• SBI which holds 62.6%  planned to sell 6% of its stake in SBI Mutual Fund, Amundi Asset Management, which has the remaining 36.8% share, intended to sell 4%.

• SBI has two public subsidiaries: SBI Life and SBI Card. 

• According to the chairman of SBI, Dinesh Khara, the bank's current capital level is sufficient to support another Rs 7 trillion in loan growth.

• Listing is being delayed to increase the valuation of the company.