India's largest asset manager, SBI Mutual Fund, is planning to launch its much-awaited initial public offering (IPO) on July 13, with the price band likely to be announced on July 9, according to industry sources working on the issue.The IPO, which has already received Sebi's final observations, is expected to be one of the biggest public offerings in India's financial services sector this year.According to a Bloomberg report, the IPO is expected to raise around $1.2 billion (approximately Rs 11,400 crore), making it one of the largest listings in the domestic asset management industry.SBI Mutual Fund had filed its draft red herring prospectus (DRHP) with the Sebi in March. The proposed issue is entirely an offer for sale (OFS), with existing shareholders State Bank of India (SBI) and France's Amundi set to pare part of their holdings.Since there is no fresh issue component, the asset management company itself will not receive any proceeds from the IPO.The draft papers propose the sale of up to 20.37 crore equity shares. Earlier market estimates had pegged the issue size at around Rs 13,000 crore, although the final size will depend on the pricing.SBI Mutual Fund is the country's largest asset manager by assets under management (AUM) and is jointly owned by SBI and Amundi, Europe's largest asset manager. The fund house has a strong presence across equity, debt and hybrid schemes and commands one of the largest systematic investment plan (SIP) investor bases in India.The IPO is expected to provide liquidity to existing shareholders while allowing public investors to participate in India's largest and one of its fastest-growing asset management businesses.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)