SBI MF Plans to Go For IPO
SBI Mutual Fund (MF), the country's largest mutual fund, is expected to be the next mutual fund to be listed on stock markets. The executive committee of State Bank of India's central board has given its approval to sell a 6% shareholding in the fund house in the IPO, according to a stock market filing. The fund house will become the sixth fund house to be listed on the bourses once the IPO is launched after regulatory clearances. Other fund firms that have previously been listed include HDFC MF, Nippon Life MF, UTI MF, and Aditya Birla Sun Life MF.