SBI is going to IPO of its joint venture SBI Mutual Fund. Preparations for this have started. SBI Mutual Fund will raise Rs 7500 crore through an IPO. This IPO of SBI Mutual Fund will be the largest IPO of the mutual fund industry till date. SBI Mutual Fund after consulting its board of directors and shareholder company Amundi Asset Management, will ask investment bankers to prepare its proposal.
The process of bringing IP will begin in the next one or two months
The company is about to start the process of getting an IPO in the next one to two months. The AUM (Asset under Management) of SBI Mutual Fund is more than five lakh crore rupees. Forty percent of this comes from government funds. How many crore IPOs will the company issue, it will be known only after the AUM of March. However, it is now being said that it will raise a fund of Rs 7500 crore. At present, the total valuation of SBI Mutual Fund is seven billion dollars i.e. 52 thousand crore rupees.
Four companies of SBI have been listed in the stock market
So far, four companies of SBI have been listed in the stock market. These include SBI Home Finance, SBI Life Insurance, SBI Card and Payment and SBI itself. SBI will be the fourth public issue of the mutual fund industry. Earlier, IPOs of HDFC Mutual Fund, Nippon Mutual Fund and UTI AMC have been listed. Firstly in 2017, Nippon Mutual Fund raised Rs 1542 crore. In 2018, HDFC Mutual Fund raised Rs 2800 crore through an IPO. Last year, the UTI IPO raised more than 1500 crore rupees. For the past few years, IPOs of many companies in the Indian market are getting a good response from retail investors.
Disappointment in investors due to low returns in mutual funds, investing directly in stocks
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