SBI to list mutual fund business on stock exchange via IPO

Core Viewpoint - State Bank of India plans to sell a 6% stake in its subsidiary SBI Fund Management through an Initial Public Offering (IPO) [1] Group 1: Company Overview - SBI Mutual Fund, established in 1987, is the largest in the industry and was the first non-UTI mutual fund in India [2] - SBI Funds Management was incorporated in 1992 as a wholly owned subsidiary of SBI to manage investments for SBI Mutual Funds [2] - Currently, SBI and Amundi India Holding hold 62% and 36% stakes in SBI Fund Management, respectively [2] Group 2: Market Position - SBI Fund Management is the largest asset management company in India, with a market share of 15.55% [3] - As of September-end, it manages Quarterly Average Assets Under Management (AUM) of ₹11.99 trillion under various schemes and ₹16.32 trillion under Alternates [3] Group 3: IPO Implications - The IPO aims to maximize value realization for existing stakeholders and create opportunities for general shareholders [4] - It is expected to broaden market participation and increase awareness of products among a wider set of potential investors [4] - This will be the third subsidiary of SBI to be listed, following SBI Cards and SBI Life Insurance [3]