SBI Mutual Fund has appointed Manish Mehta as its Chief Business Officer, replacing DP Singh. According to reports from CNBC TV18 and ET Now, Mehta joins after spending 15 years at Kotak Mahindra AMC between 2010 to 2025, where he held the position of Joint President & National Head Sales, Marketing & Digital Business. Singh is slated to superannuate on August end, as reported by CNBC TV18. Mehta brings over 20 years of experience in India's asset management industry, having previously held leadership positions at UTI Mutual Fund, Franklin Templeton Mutual Fund, and Principal Mutual Fund before joining Kotak Mahindra AMC.
SBI Mutual Fund maintains its position as India's largest asset manager with assets under management of ₹12.57 lakh crore, followed by ICICI Prudential with AUM of ₹11.15 lakh crore. As reported by CNBC TV18, the fund house is valued at ₹1.19 lakh crore at bourses after getting listed on Tuesday last week. The company delivered a softer-than-expected stock market debut on July 21, listing at a premium of merely 7% despite strong demand for the company's ₹9,812.91 crore initial public offering.
According to CNBC TV18, shares of the fund house listed at ₹613.30 on the NSE, representing a premium of ₹39.30, or 6.85%, over the issue price of ₹574 per share. On the BSE, the stock debuted at ₹610, up ₹36, or 6.27%. The shares are currently trading at ₹585.25 per piece, as reported by CNBC TV18. Mehta's appointment comes just days after SBI Mutual Fund made its stock market debut following its ₹9,812.91 crore initial public offering.
As reported by CNBC TV18 and ET Now, DP Singh has been key in driving SBI MF's march to the top, having galvanised the SBI's branch network to sell more products of the fund house. Mehta, with his extensive experience in distribution networks, retail expansion and leading large sales teams, is expected to add significant experience to one of India's biggest fund houses. His expertise in sales, marketing and digital business is expected to support the fund house's efforts to deepen investor participation and strengthen its nationwide presence. The leadership transition reflects SBI Mutual Fund's continued focus on strengthening its market position in India's competitive asset management sector.
