08-Jan-2026
2 mins read
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The SBI Mutual Fund IPO is shaping up to be one of the most closely watched developments among upcoming IPOs in 2026. SBI Funds Management, which manages SBI Mutual Fund, has reportedly initiated early preparations for a public listing expected in the first half of 2026. If it goes ahead as planned, the issue could become India’s largest mutual fund IPO, drawing significant interest from market participants.
While there has been no formal announcement from the company yet, recent media reports indicate that the groundwork for the proposed listing is underway.
SBI Mutual Fund IPO Latest Update: Bankers Appointed
According to publicly available reports, SBI Funds Management has appointed 9 investment banks as book-running lead managers for the proposed issue. This step is generally considered an early but important milestone in the IPO process, as it marks the beginning of structuring, documentation, and regulatory preparation.
The banker consortium reportedly includes a mix of prominent domestic institutions and global investment banks. Although the company has not issued an official statement, this development is being widely cited as the latest update on the SBI Mutual Fund IPO.
SBI MF IPO 2026: Expected Issue Size and Structure
Publicly available reports show that the SBI MF IPO 2026 could be sized at around Rs 12,500 crore, placing it among the big IPOs in 2026. The proposed issue is expected to be largely an offer for sale, indicating a partial SBI MF stake sale by existing shareholders rather than fresh capital being raised.
The listing is reportedly targeted for H1 2026, subject to market conditions, regulatory approvals, and internal readiness. As with most large public offerings, the final structure and timeline may evolve as the process progresses.
SBI Mutual Fund Listing: DRHP Status
As of now, there has been no SBI MF IPO announcement regarding the filing of the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company has not made any regulatory disclosure confirming the submission of draft documents.
Industry sources quoted in media reports indicate that the DRHP filing is likely to be the next major step once preparatory work is completed. Until then, the proposed SBI Mutual Fund listing remains in the pre-filing stage.
Market Leadership Backed by Official AMFI Data
The significance of the proposed IPO becomes clearer when viewed in the context of SBI Mutual Fund’s industry position. According to the latest Average Assets Under Management (AAUM) data released by the Association of Mutual Funds in India (AMFI) for the October–December 2025 quarter, SBI Mutual Fund continues to be the largest asset management company in India by assets.
- Average AUM (excluding domestic Fund of Funds, including overseas FoF): Rs 124.88 lakh crore
- Domestic Fund of Funds AUM: Rs 1.50 lakh crore
- Total Average AUM: approximately Rs 126.4 lakh crore
(Source: AMFI)
Why the SBI Asset Management IPO Matters
A public listing of SBI Funds Management could have multiple implications for the market. It would add a large, well-established asset management company to the listed universe, enhance transparency through regular disclosures, and potentially unlock value through a partial stake sale. For investors tracking upcoming IPOs 2026 India, the SBI Asset Management IPO stands out due to the company’s size, market share, and long-standing presence in the mutual fund industry.
Conclusion
Although the SBI Mutual Fund IPO is still in its early stages, the reported appointment of bankers and strong market leadership backed by official AMFI data indicate steady progress toward a potential listing. As one of the most anticipated public offerings among the big IPOs in 2026, the SBI MF IPO 2026 will remain in focus as investors await further clarity on the DRHP filing and an official announcement.
Disclaimer: This article is based on publicly available information and media reports and does not constitute investment advice.