Description

SBI Mutual Fund changes NFO allotment date for MAGNUM HYBRID LONG SHORT FUND from October 23, 2025 to October 20, 2025, with revised payment and settlement timelines.

Summary

BSE has announced that SBI Mutual Fund has revised the tentative allotment date for MAGNUM HYBRID LONG SHORT FUND (SIF) NFO from October 23, 2025 to October 20, 2025. The NFO period is extended till midnight on October 15, 2025. Members must ensure clear funds are available in ICCL Account by 6:00 PM on October 20, 2025 for allotment. Updated payment and cancellation timelines have been specified for transactions.

Key Points

  • NFO allotment date advanced from October 23, 2025 to October 20, 2025
  • NFO period 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
  • Pending transactions with initiated payment remain in system till 3:00 PM on last payout day or T+5, whichever is earlier
  • Cheques and OTM payments acceptable subject to clear funds receipt by 6:00 PM on October 20, 2025
  • Switches accepted during NFO period only if funds received on or before allotment date

Regulatory Changes

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

Compliance Requirements

For BSE Members:

  • Ensure clients initiate funds by 9:00 AM on T+1 day to avoid cancellation
  • Clear funds must be available in ICCL Account by 6:00 PM on October 20, 2025
  • For cheque and OTM payments, ensure funds reach ICCL account by deadline
  • For switch transactions, verify switch-out scheme payout reaches before allotment date
  • Report cancelled transactions (CC with N flag) to RTA/AMC as applicable

Important Dates

  • October 15, 2025 (Midnight): NFO extended closing date
  • T+1 Day (9:00 AM): Deadline for clients to initiate funds (transactions without funds will be cancelled)
  • October 20, 2025 (6:00 PM): Clear funds must be available in ICCL Account
  • October 20, 2025: Tentative allotment date (revised from October 23, 2025)
  • 3:00 PM on last payout day or T+5: Pending transactions with initiated payment remain in system till this time

Impact Assessment

Operational Impact: Medium - The three-day advancement of the allotment date compresses the settlement timeline, requiring members and investors to expedite fund arrangements. Members need to adjust their operational workflows to accommodate the accelerated schedule.

Market Impact: Low to Medium - Affects only participants in this specific NFO on BSE StAR MF platform. Does not impact broader market operations.

Investor Impact: Medium - Investors and members must ensure faster fund availability (by October 20 instead of October 23). Risk of transaction cancellation if funds not initiated by T+1 9:00 AM. Switch transactions require careful timing to ensure funds availability before allotment.

Risk Considerations: Members using cheques or OTM payment methods face higher operational risk due to compressed timeline. Switch transactions from schemes with longer payout TAT may miss allotment if funds arrive after October 20, 2025.

Impact Justification

Impacts NFO participants and settlement timelines for SBI Mutual Fund's scheme on BSE StAR MF platform with accelerated allotment schedule requiring faster fund availability