SBI Mutual Fund’s unlisted shares have delivered ~3x returns over the last three years, reflecting strong investor demand in the pre-IPO market and confidence in the company’s fundamentals.
The company is targeting a valuation of around ₹1.25 lakh crore, positioning it among the most valuable asset management companies in India ahead of its proposed IPO.
The sharp rise in valuation is supported by consistent growth in revenue and profitability, along with strong operating leverage inherent in the asset management business model.
SBI Mutual Fund benefits from strong parentage (State Bank of India) and a wide distribution network, which has driven sustained AUM growth and market leadership in the mutual fund industry.
The rally in unlisted shares is also driven by IPO expectations, with investors pricing in potential listing gains and long-term growth in India’s expanding mutual fund penetration.