SEBI has cleared SBI Mutual Fund to launch its maiden IPO, according to NDTV. The offering is structured entirely as an offer for sale, with no fresh issue component. The maximum size of the offer is up to 20.37 crore equity shares. This means that the shares being sold come from existing shareholders rather than newly issued shares created for the public offering. With SEBI’s approval, the fund can proceed with the next steps required to bring the IPO to market, subject to standard regulatory and procedural timelines. The reports describe the key feature of the deal as the absence of a new issue, indicating that proceeds are not raised through issuance of new shares. Instead, the transaction is focused on the sale of existing equity shares to public investors. Further details such as the issue price, bidding schedule, and allotment process are not included in the provided summaries. The information is consistent across the cited source.