SBI Mutual Fund, the largest fund house, has received capital market regulator SEBI approval to tap the market with an initial public offering and is expected to hit the market in the first half of next month.

The fund house is expected to announce the price band early next month, a source said.

The IPO will be one of the largest offerings in India’s financial services sector so far this year, the source added.

SBI Mutual Fund filed its draft red herring prospectus with SEBI in March. The proposed IPO is entirely an offer for sale with existing shareholders State Bank of India and its joint venture partner, France’s Amundi, set to dilute part of their holdings.

The AMC will not receive any money as there is no fresh issue components.

As per the papers filed with SEBI, the promoters plan to offload up to 20.37 crore equity shares.

Market estimates peg the IPO size at about ₹13,000 crore, making it one of the largest public issues in the asset management space, so far.

Published on June 19, 2026