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 NFO extended till midnight on October 15, 2025.

Summary

SBI Mutual Fund has revised the allotment date for MAGNUM HYBRID LONG SHORT FUND (Specialized Investment Fund) NFO from October 23, 2025 to October 20, 2025. The NFO period has been extended till midnight on October 15, 2025 on BSE StAR MF Platform. Clear funds must be available in ICCL Account by 6:00 PM on October 20, 2025 for allotment.

Key Points

  • Allotment date advanced from October 23, 2025 to October 20, 2025
  • NFO extended till midnight on October 15, 2025
  • Transactions without client-initiated funds by 9:00 AM on T+1 day will be cancelled
  • Transactions with client-initiated payment remain pending till 3:00 PM on last payout day or T+5, whichever is earlier
  • Clear funds must be in ICCL Account by 6:00 PM on October 20, 2025
  • Cheques and OTM payments acceptable subject to clear funds receipt by deadline
  • Switch transactions accepted only if funds received on or before allotment date

Regulatory Changes

No regulatory changes. This is an operational schedule modification for an existing NFO process.

Compliance Requirements

  • Trading members must ensure clients initiate funds by 9:00 AM on T+1 day to avoid cancellation
  • Members must ensure clear funds availability in ICCL Account by 6:00 PM on October 20, 2025
  • For switch transactions, funds from switch-out scheme must be received by allotment date for consideration
  • Cancelled transactions (where clients haven’t initiated funds) will be reported to RTA/AMC with CC and N flag

Important Dates

  • October 15, 2025 (Midnight): NFO closure (extended deadline)
  • T+1 Day (9:00 AM): Deadline for client fund initiation (post-transaction)
  • October 20, 2025 (6:00 PM): Clear funds must be available in ICCL Account
  • October 20, 2025: Tentative allotment date (immediately upon date)
  • T+5 or 3:00 PM on last payout day: Pending transaction deadline (whichever is earlier)

Impact Assessment

Operational Impact: Medium - The three-day advancement of the allotment date requires trading members and investors to accelerate their payment schedules. Members must ensure faster fund settlement to meet the October 20 deadline instead of the originally planned October 23 date.

Investor Impact: Medium - Investors participating in the NFO must expedite their payment processes to ensure funds reach the ICCL Account by the revised deadline. Late payments may result in non-allotment.

Processing Impact: The immediate allotment on October 20, 2025 leaves no buffer time, making it critical that all payment modes (including cheques and OTM) clear by 6:00 PM on that date. Switch transactions are particularly time-sensitive as they depend on switch-out scheme payout timelines.

Impact Justification

Schedule change affects NFO participants and trading members dealing with SBI Mutual Fund's Specialized Investment Fund, requiring adjustment to payment and allotment timelines