IDBI Mutual Fund no longer exists as a separate fund house
LIC Mutual Fund completed its takeover of IDBI Mutual Fund's schemes with effect from 29 July 2023. Of the twenty schemes involved, roughly half were merged into comparable existing LIC Mutual Fund schemes and the rest were taken over and continue to run as standalone funds under LIC Mutual Fund.
The merger was a regulatory requirement rather than a commercial choice. After LIC acquired a majority stake in IDBI Bank, LIC was effectively the sponsor of two asset management companies, which SEBI's rules do not permit. One of the two had to go.
If you are searching for an IDBI SIP calculator because you hold one of these schemes, the practical answer is: your money is now with LIC Mutual Fund, and you should check which scheme your units ended up in.
What a merger changes for an existing investor
This is worth knowing generally, because AMCs are bought and sold regularly.
What does not change: your units, your invested value, and your original purchase dates. The holding period for capital gains purposes continues — a merger of schemes carried out under SEBI's framework is not treated as a redemption, so no tax event is triggered and nothing is reset.
What does change: the fund house, usually the fund manager, and possibly the scheme's mandate if your scheme was folded into a different one. The expense ratio may change. The scheme name on your statement will change.
What you must check: whether your SIP mandate survived. A standing instruction set up against the old AMC's bank details does not always carry across cleanly, and investors have discovered months later that instalments quietly stopped. Confirm with the registrar or on the AMC's site that your SIP is still being debited and allotted.
What you are entitled to: when a scheme's fundamental attributes change materially, SEBI requires the AMC to give investors an exit window during which they can redeem without exit load. If you were not happy with where your scheme landed, that window is when to act.
Using the calculator
The arithmetic is unaffected by any of the above. Enter a monthly instalment, an expected annual return and a period, and the calculator compounds the series.
Set the rate from the current scheme's category, not the one you originally bought. If a conservative hybrid scheme was merged into something with a different equity allocation, your old assumption no longer fits.
Checking where your units went
- Pull a consolidated account statement from CAMS or KFintech using your PAN. It lists every holding across every AMC, under current scheme names.
- Compare the scheme you now hold against what you originally chose — category, mandate and expense ratio.
- Confirm your SIP is still active and being allotted.
- If the new scheme does not suit you, treat it as a fresh decision rather than an inherited one.
What the projection excludes
The output is gross of the expense ratio, exit load and tax. Equity gains above ₹1.25 lakh in a financial year are taxable, and your original purchase dates still govern the holding period despite the merger.