Description

SBI Mutual Fund has changed the tentative allotment date for MAGNUM HYBRID LONG SHORT FUND (SIF) NFO from October 23, 2025 to October 20, 2025, with revised payment and settlement timelines.

Summary

BSE has announced a change in the allotment date for SBI Mutual Fund’s MAGNUM HYBRID LONG SHORT FUND (SIF) NFO. The tentative allotment date has been advanced from October 23, 2025 to October 20, 2025. This change affects payment processing timelines, fund settlement requirements, and transaction cancellation rules for members trading on the BSE StAR MF platform.

Key Points

  • Allotment date changed from October 23, 2025 to October 20, 2025
  • NFO extended till midnight on October 15, 2025
  • Clear funds must be available in ICCL Account by 6:00 PM on October 20, 2025
  • Allotment will be done immediately on October 20, 2025
  • Transactions without client-initiated funds by 9:00 AM on T+1 day will be cancelled
  • Cheques and OTM payments acceptable subject to clear funds receipt by allotment date
  • Switch transactions subject to receipt of funds on or before allotment date

Regulatory Changes

No regulatory framework changes. This is an operational modification to the previously announced NFO launch schedule referenced in Notice No. 20250930-70 dated September 30, 2025.

Compliance Requirements

For Members:

  • Ensure clients initiate fund payments by 9:00 AM on T+1 day to avoid transaction cancellation
  • Transactions with initiated payments remain pending until 3:00 PM on the last payout day or T+5, whichever is earlier
  • Cancelled transactions will be reported to RTA/AMC with CC and N flag
  • Ensure clear funds availability in ICCL Account by 6:00 PM on October 20, 2025 for allotment eligibility

For Cheque & OTM Payments:

  • Must result in clear funds in ICCL account by 6:00 PM on October 20, 2025

For Switch Transactions:

  • Switch-out scheme funds must be received on or before October 20, 2025 (allotment date)
  • Late receipt of switch-out funds will result in non-consideration for allotment

Important Dates

  • October 15, 2025 (Midnight): NFO extended deadline
  • T+1 Day (9:00 AM): Deadline for client fund initiation (to avoid cancellation)
  • October 20, 2025 (6:00 PM): Clear funds deadline in ICCL Account
  • October 20, 2025: Immediate allotment date
  • Original Allotment Date: October 23, 2025 (now superseded)

Impact Assessment

Market Impact: Medium - affects participants in SBI Mutual Fund’s Specialized Investment Fund NFO on BSE StAR MF platform.

Operational Impact: The three-day advancement of the allotment date creates tighter settlement timelines for members and investors. Payment processing, fund clearance, and switch transaction settlements must be accelerated to meet the new October 20, 2025 deadline. Members need to communicate urgently with clients to ensure timely fund initiation and payment completion.

Investor Impact: Investors participating in the NFO must ensure faster payment processing. Those using cheques or OTM payment methods face stricter clearance timelines. Switch transaction participants must verify their switch-out funds will be available before the advanced allotment date to secure unit allotment.

Impact Justification

Operational change affecting NFO participants with revised allotment date and payment deadlines for SBI Mutual Fund's MAGNUM HYBRID LONG SHORT FUND. Impacts transaction processing and settlement timelines for members and investors.