SBI Mutual Fund has received the Reserve Bank’s approval to acquire upto 9.99 per cent equity stake in Bandhan Bank. In an exchange filing, Bandhan Bank stated that the RBI has directed SBI Mutual Fund to ensure that its “aggregate holding” in the Bank does not exceed 9.99% of the Bank’s paid-up share capital or voting rights at all times.
Acquisition time frame
The Reserve Bank has directed that if SBI Mutual Fund fails to acquire a major shareholding within a period of one year from the date , the approval will be cancelled.
If the “aggregate holding” of the applicant falls below 5% at any point in time, prior approval of the RBI will be required to increase it to 5% or more of the paid-up share capital or voting rights of the Bank, as per the Reserve Bank of India directive to SBI Mutual Fund.
SBI Mutual Fund RBL Bank acquisition
SBI Mutual Fund also received the Reserve Bank’s approval to acquire an aggregate holding of up to 9.99 per cent in RBL Bank. The RBL Bank stated on Wednesday that the fund has received the central bank’s approval to acquire up to 9.99 per cent equity stake within a period of 1 year.
SBI Mutual Fund holding pattern
SBI Funds Management is a joint venture between SBI and France-based AMUNDI, one of the world’s leading fund management companies. SBI currently holds a 61.86 per cent stake in SBIFML; 36.33 per cent is held by AMUNDI Asset Management through a wholly owned subsidiary, Amundi India Holding; and 1.81 per cent is held by others.
In FY25, the fund had Rs 26.20 lakh crore under management. The fund has posted a 23 per cent Compounded Annual Growth Rate in its AUM in the last 5 years. It reported a Profit After Tax (PAT) of Rs 2,531 crore in FY26 while adding 62 lakh new investors to its portfolio.