SBI Mutual Fund may come out with Rs. 7,000-crore IPO in early FY23

SBI Funds Management’s (SBI Mutual Fund) initial public offering (IPO) is likely to hit the market in the first quarter of next financial year, said people close to the development. The asset manager’s IPO size could be between Rs 7,000-Rs 7,500 crore, valuing the country’s largest MF between Rs 70,000-Rs 75,000 crore, they said.

Senior officials in the fund house and SBI said that the IPO process has already been kick-started and investment bankers will be finalised soon.