Wednesday, May 31, 2023

SBI Mutual Fund IPO: Big update on SBI Mutual Fund revealed by SBI Chairman

SBI Mutual Fund: If you are also waiting for SBI Mutual Fund IPO to invest in the stock market, then you will have to wait longer for this. Yes, for some reason its IPO will come after a few days. Giving information, State Bank of India (SBI) Chairman Dinesh Kumar Khara said that the plan to sell the shares of the mutual fund unit of the bank has been postponed for the time being.

IPO postponed due to Ukraine-Russia war
In February, the country’s largest asset manager SBI Mutual Fund IPO selected seven merchant bankers to launch a $1 billion IPO. SBI MF has assets worth around Rs 6.5 lakh crore under its management. After Russia’s attack on Ukraine, the market fluctuated, due to which IPO plans were put on hold.

Announcing the sale of 6 percent stake,
Khara told the media on the sidelines of the National Banking Conference, “There is no plan to list SBI Mutual Fund as of now. Without giving any reason, he said that the IPO plan is currently on hold. SBI announced the sale of a 6 percent stake in SBI MF through IPO on 15 December 2021. SBI holds a 62.6 percent stake in SBI Mutual Fund. The remaining 36.8 percent is held by French insurer Amundi Asset Management.

Read More: Digital Currency: Notes will be closed in the future! RBI did a pilot test of digital currency, what will be the benefit?

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