SBI Mutual Fund IPO DRHP: SBI Funds Management has filed preliminary papers with capital markets regulator SEBI to launch its IPO.

SBI Mutual Fund IPO will entirely be an offer for sale (OFS) of up to 20.37 crore equity shares with no fresh issue component.

The issue includes stake sales by promoters, State Bank of India and Amundi India Holding.

A consortium of merchant bankers has been appointed to manage the issue, including Kotak Mahindra Capital, Axis Capital, BofA Securities India, HSBC Securities and Capital Markets (India), ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors and SBI Capital Markets.

The country's largest public sector bank, SBI, holds 61.76 per cent stake in SBI Funds Management,. Paris-based Amundi holds 36.26 per cent stake.

SBI Funds Management, which was established in 1992, is the country's largest asset management company. It has more than 15 per cent share in the country's mutual fund market.