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IDBI Mutual Fund

IDBI Mutual Fund is a subsidiary of IDBI Bank, a financial service provider catering to customers looking for short and long term investment options. As of March 2022, it manages assets worth of Rs. 4120.61 Crore via debt liquid funds, ELSS, domestic and overseas FoFs, and Multi Cap Funds.

IDBI MF has been recognised as one of the best performing investment schemes currently available in the Indian financial market. Its primary products, Equity, Debt, Gold, and Hybrid Funds, offer an annual return as high as 13.2% against the invested amount.

IDBI MF employs over 200 people across 15 branches across the country. IDBI Asset Management Limited was incorporated in accordance with the Companies Act, 1956 and IDBI Mutual Fund, a subsidiary, was set up with compliance of the Indian Trusts Act of 1882.

About the Sponsor

Industrial Development Bank of India (IDBI) was incorporated under the Government Company Act on 1st July 1964. The primary aim of the bank was to provide financial support to the feeble industrial landscape of the country at the time. In its initial days, IDBI was a subsidiary of the Reserve Bank of India but they later transferred it to the Government of India in 1976. The Government itself had to forego control of the bank after mounting pressure from financial circles. Currently, LIC holds a 51% majority stake at the bank.

IDBI has one of the largest networks of branches and ATMs in the country owing to government backing through the years. It now has 1,891 branches spread across all states of the country as well as an overseas branch in Dubai.

IDBI is unlike any other banking institution in the country as it helped shape the financial sector, especially during the pre-liberalisation era. It had a direct and pivotal role to play in the formation of multiple national financial institutions including National Stock Exchange of India (NSEI), Securities and Exchange Board of India (SEBI), Stock Holding Corporation of India Limited (SHCIL), and National Securities Depository Limited (NSDL).

List of undefined in India

Fund NameCategoryRisk1Y ReturnsRatingFund Size(in Cr)
IDBI Ultra Short Term FundDebtModerate4.5%5₹240
IDBI Liquid FundDebtModerate3.9%5₹602
IDBI Flexi Cap FundEquityVery High12.2%4₹387
IDBI India Top 100 Equity FundEquityVery High9.6%4₹601
IDBI Focused 30 Equity FundEquityVery High10.0%4₹131
IDBI Short Term Bond FundDebtModerate11.4%4₹30
IDBI Small Cap FundEquityVery High20.9%3₹132
IDBI Long Term Value FundEquityVery High5.2%3₹100
IDBI Nifty Index FundOtherVery High9.4%3₹211
IDBI Dynamic Bond FundDebtModerate3.8%3₹16
IDBI Nifty Junior Index FundOtherVery High8.2%2₹55
IDBI Equity Advantage FundEquityVery High9.8%2₹487
IDBI Hybrid Equity FundHybridVery High6.3%2₹186
IDBI Banking & Financial Services FundEquityVery High5.8%2₹89
IDBI Equity Savings FundHybridModerately High5.6%2₹11
View All

Key information

Mutual fund nameIDBI Mutual Fund
FoundedMarch 29, 2010
AMC Incorporation DateJan 25, 2010
Sponsor nameIDBI Bank Ltd.
Trustee organisationIDBI MF Trustee Company Ltd
MD and CEOMr. Dilip Kuman Mandal
CIOMr. V. Balasubramanian
Compliance OfficerMr. Chandra Bhushan
Investor Service OfficerMr. Durgaprasad S.V.

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How can you invest in ?

Prospective investors can easily complete the process with the help of online IDBI Mutual Fund application. You only have to follow some simple steps mentioned below.

Step 1. Log-in to your Groww account. If you are a new user, register and create a new account.

Step 2. Upload a copy of an identity proof allocated by the Government of India. Aadhaar, Voter ID, PAN Card, passport, Driving Licence, etc. is accepted as a valid ID proof.

Step 3. Upload a Proof of Address paper, namely, any document with your permanent address mentioned.

Step 4. Choose an investment period according to your preference.

Step 5. Select whether you want to invest in plans of low, mid, or high risk.

Step 6. Choose your preferred investment option as IDBI Mutual Funds.

Step 7. Select “Invest One Time” if you want to invest a large amount, or select “Start SIP” if you want to invest via SIP.

The online investment procedure is hassle-free and easy-to-follow. Once you have completed these steps, your investment will be processed and the IDBI Bank Mutual Fund you have invested in will appear in your Groww account within 3 to 4 business days.

Top Fund Managers

1. Mr. Dilip Kumar Mandal

A seasoned financial expert with over 30 years of experience behind him, Mr. Dilip Kumar Mandal is a well-recognised name in banking and financial sectors in India. He specialises in mutual funds, asset management, project financing, venture capital financing, risk management and mitigation, corporate banking, etc.

Mr. Mandal is an alumnus of Indian Institute of Technology, Kharagpur, where he completed his Bachelor in Technology in Metallurgical Engineering. He also has a Post Graduate Diploma in Management and International Business from Indian Institute of Foreign Trade.

Mr. Dilip Kumar Mandal has been associated with IDBI Bank for more than 28 years. He started his career as the Regional Head of Corporate Banking of the west zone in 1987. He was promoted to Chief General Manager (Zonal Head) for the eastern zone in April 2014 by the IDBI Bank, and in 2016 was appointed as the Managing Director and Chief Executive Officer of the IDBI Asset Management Ltd.

Mr. Dilip Kumar Mandal currently handles total financial assets of over Rs. 6719 Crores in association with the AMC.

2. Mr. Firdaus Marazban Ragina

Mr. Firdaus Marazban Ragina acts as the current Fund Manager for two schemes, IDBI Nifty Index Fund and IDBI Nifty Junior Index Fund. Mr. Ragina has a B.Com degree and over 20 years of experience in the financial sector.

Mr. Firdaus Marazban Ragina currently handles over Rs. 301 Crore spread over 7 different schemes offered by IDBI new Mutual Fund. He has been appointed for this position in October 2018.

3. Ms. Ayushi Sethia

Ms. Ayushi Sethia has been appointed as the Co-Fund Manager for three schemes of IDBI Mutual Funds. She currently oversees IDBI Banking and Financial Services Fund, IDBI Equity Advantage Fund and IDBI Long Term Value Fund. In total, she handles Rs. 923 Crore in assets.

Ms. Sethia is an alumnus of Jadavpur University, completing her Bachelor of Science in Mathematics. She completed her Masters in Business Administration on Finance and Strategy from the Indian School of Business. Before joining IDBI Asset Management Ltd., she was a Junior Research Analyst in Quant One Technologies Pvt. Ltd. IDBI appointed her in May 2018.

4. Ms. Uma Venkatraman

An Alumni of Boston College Carrol School of Management, Ms. Uma Venkatraman is the acting Fund Manager for the Equity Funds at IDBI Asset Management Ltd. She was appointed in September 2017, and currently oversees IDBI India Top 100 Equity Fund, IDBI Nifty Index Fund, IDBI Nifty Junior Index Fund, IDBI Monthly Income Plan, and IDBI Small Cap Fund.

Ms. Venkatraman completed her Bachelors in Commerce from Ethiraj College for Women, following which she studied at XLRI Jamshedpur. She joined Boston College Carroll School of Management in 2003 to complete MSF in Finance.

Ms. Uma Venkatraman has a total experience of over 15 years. She started her career at UTI AMC in 1999. In 2004, she was appointed as a Research Associate at Adams Harkness, and later in the same designation at Morgan Keegan. In 2006 she joined ASK Raymond James as an Analyst, and in 2008 in B&K Securities in the department of Institutional Equity Sales.

IDBI appointed her as the Head of Research (Equities) in December 2010. She was promoted to Fund Manager of the Equity department in September 2017 and has held the position for the last two years. She currently handles Rs. 2663 Crore across different schemes.

5. Mr. Ashish Mishra

Mr. Ashish Mishra works as the acting Vice President-Fund Manager at IDBI Asset Management Ltd. He is an expert in asset management, risk management and mitigation, project financing, mutual funds, and venture capital financing.

Mr. Mishra completed his Bachelor of Engineering from RGPV and joined S.P. Jain Center of Management to complete his Masters in Business Administration in Finance. He started his career in Infosys, as a SE, in 2004. Later, he joined Merrill Lynch as a consultant in 2006.

His venture into the Indian Banking industry started in 2009 when he joined Union Bank of India as the Manager of Treasury. Then he joined ING Investment as a Senior Manager for Portfolio Management in 2010.

Mr. Ashish Mishra was appointed by the IDBI Asset Management Ltd. in 2014 as the Vice President and Fund Manager managing Equity funds, ETF, and Fund of Funds. He is holding the position for 5 years.

6. Mr. Bhupesh Kalyani

Mr. Bhupesh Kalyani has over 16 years of work experience, with over 12 years in fixed income fund management and dealing. He is a CA, ICWA, and CISA, completing his education from the Institute of Chartered Accountants of India in 2002. He joined Tata Mutual Funds as a Dealer of Fixed Income in 2009 as the beginning of his career.

Mr. Kalyani also worked with Star Union Dai-Ichi Life Insurance Co. Ltd. before joining IDBI AMC. He was appointed as an Investment Manager and worked for four years in the company managing its entire debt and money market portfolio.

Mr. Bhupesh Kalyani was appointed as the Associate Vice President at IDBI Asset Management Ltd. in January 2017. Currently, he is the Fund Manager of the Debt Funds, holding the ranks for two years.

Let's have a closer look

Now let us jump and check about these top 10 mutual fund schemes.

IDBI Ultra Short Term Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 6.53% & 5.93%. The IDBI Ultra Short Term Fund comes under the Debt category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Ultra Short Term Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹240Cr
1Y Returns4.5%

IDBI Liquid Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 4.25% & 5.47%. The IDBI Liquid Fund comes under the Debt category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Liquid Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹602Cr
1Y Returns3.9%

IDBI Flexi Cap Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 22.33% & 14.67%. The IDBI Flexi Cap Fund comes under the Equity category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Flexi Cap Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹387Cr
1Y Returns12.2%

IDBI India Top 100 Equity Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 20.83% & 12.97%. The IDBI India Top 100 Equity Fund comes under the Equity category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI India Top 100 Equity Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹601Cr
1Y Returns9.6%

IDBI Focused 30 Equity Fund Direct Growth

Fund Performance: The IDBI Focused 30 Equity Fund comes under the Equity category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Focused 30 Equity Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹131Cr
1Y Returns10.0%

IDBI Short Term Bond Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 7.95% & 6.92%. The IDBI Short Term Bond Fund comes under the Debt category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Short Term Bond Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹30Cr
1Y Returns11.4%

IDBI Small Cap Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 30.09% & 14.29%. The IDBI Small Cap Fund comes under the Equity category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Small Cap Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹132Cr
1Y Returns20.9%

IDBI Long Term Value Fund Direct Growth

Fund Performance: The IDBI Long Term Value Fund comes under the Equity category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Long Term Value Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹100Cr
1Y Returns5.2%

IDBI Nifty Index Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 17.48% & 13.53%. The IDBI Nifty Index Fund comes under the Other category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Nifty Index Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹211Cr
1Y Returns9.4%

IDBI Dynamic Bond Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 6.31% & 5.58%. The IDBI Dynamic Bond Fund comes under the Debt category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Dynamic Bond Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹16Cr
1Y Returns3.8%

IDBI Nifty Junior Index Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 17.47% & 9.81%. The IDBI Nifty Junior Index Fund comes under the Other category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Nifty Junior Index Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹55Cr
1Y Returns8.2%

IDBI Equity Advantage Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 16.9% & 12%. The IDBI Equity Advantage Fund comes under the Equity category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Equity Advantage Fund is ₹500 and for SIP, it is ₹500.

Min Investment Amt₹500
AUM₹487Cr
1Y Returns9.8%

IDBI Hybrid Equity Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 13.73% & 8.49%. The IDBI Hybrid Equity Fund comes under the Hybrid category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Hybrid Equity Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹186Cr
1Y Returns6.3%

IDBI Banking & Financial Services Fund Direct Growth

Fund Performance: The IDBI Banking & Financial Services Fund comes under the Equity category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Banking & Financial Services Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹89Cr
1Y Returns5.8%

IDBI Equity Savings Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 10% & 7.36%. The IDBI Equity Savings Fund comes under the Hybrid category of IDBI Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for IDBI Equity Savings Fund is ₹5,000 and for SIP, it is ₹500.

Min Investment Amt₹5,000
AUM₹11Cr
1Y Returns5.6%

FAQs on IDBI Mutual Fund

How to Start IDBI Mutual Fund SIP Online?

One can start investing in IDBI Mutual Fund online through Groww without any hassles. Alternatively, they can also invest through the respective fund houses’ website. One can also make use of any other online platform or mobile application to invest in IDBI Mutual Funds.

How to Calculate IDBI Mutual Fund SIP?

To calculate IDBI Mutual Fund SIP, one needs to take into account certain things such as:

  1. the investment amount
  2. the tenure of SIP
  3. the number of your IDBI Mutual Fund SIPs (if there's any) already paid
  4. expected interest rate

How to redeem IDBI Mutual Fund?

To redeem IDBI Mutual Funds through offline mode, one can visit the nearest fund house and submit a form. Alternatively, an investor can also visit the official website and redeem the investment by signing in with the folio number. They can also withdraw their IDBI Mutual Fund investments from any online portal where they have invested.

How to increase SIP amount in axis mutual fund?

An IDBI Mutual Fund sip amount can be increased with the help of Step-up or top-up SIPs. Earlier, this facility was provided by very few fund houses. Now, however, most of them offer it but it is advisable to check with the fund house first. If the facility is available, it is advisable to check with Step-up Calculator to calculate the SIP Amount and then take any decision.

How to stop a SIP in an IDBI Mutual Fund online?

Yes, you can stop your SIP online at any time by just placing a Cancel SIP request. To stop or cancel your SIP, you can either log in to the IDBI Mutual Funds website with a folio number or contact your agent or check the steps on the online investment platform where you have invested.

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