SBI Mutual Fund files DRHP for ₹13,000 crore IPO; SBI and Amundi to sell stakes

Group 1: Company Overview - SBI Mutual Fund, India's largest asset management company, has filed a Draft Red Herring Prospectus to raise approximately ₹13,000 crore [1] - The fund is a joint venture between the State Bank of India (SBI) and France-based Amundi, with SBI holding a 61.98% stake and Amundi holding 36.40% [1] Group 2: Market Position - SBI Mutual Fund manages assets worth ₹16.32 lakh crore, holding a market share of 15.55% in the mutual fund industry [2] - The company will become the seventh asset management company (AMC) to list on the stock exchange, following several other major AMCs [2] Group 3: IPO Details - SBI Mutual Fund aims to raise around ₹1.3 lakh crore through the IPO, with an estimated price-to-earnings ratio of approximately 51 times [4] - The unlisted market currently values the company's shares at about ₹1.5 lakh crore [4] Group 4: Competitive Landscape - ICICI Prudential AMC, the second-largest asset manager, has a market capitalization of ₹1.39 lakh crore and was listed last year [3] - A total of 9 investment banks, including Kotak Mahindra Capital and Axis Capital, will manage the IPO issue [3]