SBI Funds Management, Indiaās largest asset management company, has filed its DRHP (Draft Red Herring Prospectus) to raise ā¹13000 crore via an IPO.
On March 19, the company filed a DRHP with the market regulator SEBI. This IPO comprises entirely an offer for sale with no fresh issue component.
SBI Mutual Funds is a joint venture between the State Bank of India and Amundi India Holdings. As per the DRHP, the promoter State Bank of India (SBI) will sell 128,334,397 equity shares, and Amundi India Holding will sell 75,374,842 equity shares in an IPO.Ā
As of now, SBI holds 61.76% stake in the company, while Amundi India holds 36.26% stake.
Market Position and Strong AUM Growth
SBI Mutual Fund holds 15.4% of the market share, managing assets worth ā¹16.32 lakh crore, indicating a strong market position.
After Nippon Life India Asset Management, HDFC AMC, ICICI Prudential AMC, Aditya Birla Sun Life AMC, Canara Robeco AMC, and UTI Asset Management Company, SBI Mutual Fund AMC will be the 7th AMC company to list on the stock market.Ā
The book-running lead managers to the issue will be Kotak Mahindra Capital, Axis Capital, Jefferies, SBI Capital, ICICI Securities, Motilal Oswal, HSBC Securities, JM Financial, and BofA Securities. While the registrar to the IPO is Kfin Technologies.
About SBI Mutual Fund
With its incorporation in 1992, the SBI mutual fund is Indiaās oldest and largest mutual fund with an experience of 38 years in fund management. It is backed by Indiaās largest bank, State Bank of India, giving investors trust and long-term reliability in an IPO. The firm manages a diversified portfolio of 126 mutual fund schemes across equity and equity-oriented, debt, arbitrage, ETFs, index, and overseas fund-of-funds.
If the IPO launches, this will be the 3rd subsidiary of State Bank of India to launch its issue.
Financially, the company has been showing strong growth by generating a revenue of ā¹3,597.8 crore in FY25, reflecting a 33.7% rise compared to ā¹2,690.6 crore in FY24.Ā
At the same time, in FY25, the profit stood at ā¹2,540.2 crore, compared to ā¹2,072.8 crore in the previous year. For more such updates and IPO-related queries, follow IPO Watch.
SBI Funds Management IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
SBI Funds Management Company Financial Report
Amount ā¹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ā¹2,412.58 | ā¹641.71 | ā¹1,339.71 |
| 2024 | ā¹3,426.08 | ā¹752.46 | ā¹2,072.79 |
| 2025 | ā¹4,236.15 | ā¹871.81 | ā¹2,540.15 |
| Dec 2025 | ā¹3,883.24 | ā¹735.58 | ā¹2,432.91 |
SBI Funds Management IPO Valuation – FY2025
SBI Funds Management IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ā¹12.53 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 33.77% |
| Net Asset Value (NAV): | ā¹40.85 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| ICICI Prudential Asset Management Company Limited | 53.60 | 53.73 | 82.80 | 71.20 | 4,682.78 Cr. |
| HDFC Asset Management Company Limited | 57.58 | 41.50 | 32.36 | 189.82 | 3,498.44 Cr. |
| Nippon Life India Asset Management Limited | 20.34 | 41.12 | 31.39 | 66.38 | 2,230.69 Cr. |
| Aditya Birla Sun Life Asset Management Company Limited | 32.26 | 28.99 | 26.99 | 129.19 | 1,684.78 Cr. |
| UTI Asset Management Company Limited | 57.35 | 16.68 | 16.28 | 359.37 | 1,851.09 Cr. |
Objects of the Issue
- NA
IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- BofA Securities India Limited
- ICICI Securities Limited
- HSBC Securities and Capital Markets (India) Private Limited
- Kotak Mahindra Capital Company Limited
- Jefferies India Private Limited
- JM Financial Limited
- Motilal Oswal Investment Advisors Limited
- SBI Capital Markets Limited
