Description

MIRAE ASSET Mutual Fund launches MIRAE ASSET NIFTY TOP 20 EQUAL WEIGHT ETF NFO from December 02-10, 2025 on BSE StAR MF Platform with tentative allotment on December 15, 2025.

Summary

MIRAE ASSET Mutual Fund is launching MIRAE ASSET NIFTY TOP 20 EQUAL WEIGHT ETF as a New Fund Offer (NFO) on the BSE StAR MF Platform. The NFO period runs from December 02, 2025 to December 10, 2025, with a tentative allotment date of December 15, 2025. Both regular and direct plan variants will be available under the equity scheme category.

Key Points

  • Two scheme variants available: Regular Plan and Direct Plan, both classified under equity category
  • NFO extended till midnight on December 10, 2025 for lumpsum purchases only
  • Transactions without client-initiated funds by 9:00 AM on T+1 day will be cancelled with N flag reported to RTA/AMC
  • Pending transactions with initiated payments remain in system till 3:00 PM on last NFO payout date or T+5, whichever is earlier
  • Cheques and OTM payments accepted during NFO period subject to clear funds receipt
  • Switches accepted during NFO period subject to funds receipt on or before allotment date

Regulatory Changes

No regulatory changes introduced. This is a new product launch notification.

Compliance Requirements

  • Members must ensure client funds are initiated by 9:00 AM on T+1 day to avoid cancellation
  • Clear funds must be available in ICCL Account by 6:00 PM on December 12, 2025 for allotment
  • For cheques and OTM payments, clear funds must be received in ICCL account by 6:00 PM on December 12, 2025
  • Switch transactions require funds receipt under NFO scheme on or before December 15, 2025 (allotment date) for consideration
  • Cancelled transactions will be reported to RTA/AMC with CC and N flag

Important Dates

  • December 02, 2025: NFO opening date
  • December 10, 2025: NFO closing date (extended till midnight for lumpsum purchases)
  • December 12, 2025: Deadline for clear funds in ICCL Account by 6:00 PM
  • December 15, 2025: Tentative allotment date
  • T+1 day: Deadline for client fund initiation at 9:00 AM (for all transactions including extended period)
  • T+5 or last NFO payout date: Deadline for pending transactions with initiated payments at 3:00 PM (whichever is earlier)

Impact Assessment

This circular has minimal market-wide impact as it pertains to a specific NFO launch. The impact is primarily operational for BSE StAR MF platform members who will facilitate subscriptions to this ETF. Investors seeking exposure to Nifty Top 20 stocks through an equal-weight strategy now have a new investment option. The strict timelines for fund clearing and transaction processing ensure orderly NFO operations and timely allotment.

Impact Justification

Routine NFO launch notification for a new ETF scheme. Limited impact to general market participants, primarily relevant to mutual fund distributors and investors interested in this specific ETF product.