SBI Mutual Fund planning IPO launch on July 13, to raise $1.2 billion

SBI Mutual Fund is set to launch its IPO on July 13, aiming to raise around $1.2 billion (approximately Rs 11,400 crore). The issue is entirely an offer for sale, with existing shareholders State Bank of India and Amundi selling up to 20.37 crore equity shares, and no fresh issue component. SBI Mutual Fund is India's largest asset manager by AUM, jointly owned by SBI and Amundi, and the listing would be one of the biggest in the domestic asset management industry.