LIC MF Aims for the 1 Lakh Crore IPO Milestone

LIC Mutual Fund aims to launch an IPO once its asset under management reaches Rs 1 lakh crore by FY'26, increasing from its current Rs 38,000 crore. The company is expanding its reach and reducing SIP minimums to boost retail investor participation. West Bengal remains a stronghold.

LIC Mutual Fund is eyeing a public offering once its asset under management touches the Rs 1 lakh crore benchmark by FY'26. The current AUM stands at around Rs 38,000 crore, a step up from Rs 16,526 crore in FY'23.

"We achieved 67% growth in FY'24 and maintain a current growth rate of 30%," stated RK Jha, MD and CEO of LIC MF Asset Management Ltd. Presently, 47% of equity contributes to the funds, with debt making up the rest.

To meet its targets, LIC MF is expanding its office network utilizing LIC's vast reach, establishing distribution channels, and cutting minimum SIP amounts to increase retail participation. West Bengal, with Rs 3,000 crore in assets, ranks second in investor contributions.