SBI Mutual Fund files draft papers with Sebi for IPO; issue entirely an OFS

NEW DELHI: (Mar 20) SBI Mutual Fund, the country's largest fund house, on Thursday filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The proposed maiden public offering is entirely an offer for sale (OFS) of up to 20.37 crore equity shares, with no fresh issue component, according to the draft red herring prospectus (DRHP).

The offering will see promoters, State Bank of India (SBI) and Amundi India Holding, pare their stakes.