Description

MIRAE ASSET Mutual Fund launches NIFTY INDIA INFRASTRUCTURE & LOGISTICS ETF NFO from January 27, 2025 to February 09, 2025 on BSE StAR MF Platform with tentative allotment on February 12, 2026.

Summary

MIRAE ASSET Mutual Fund is launching the MIRAE ASSET NIFTY INDIA INFRASTRUCTURE & LOGISTICS ETF as a New Fund Offer (NFO) on the BSE StAR MF Platform. The NFO period runs from January 27, 2025 to February 09, 2025, with a tentative allotment date of February 12, 2026. Both regular and direct plan options are available in the equity category.

Key Points

  • NFO period: January 27, 2025 to February 09, 2025
  • Two scheme options available: Regular Plan and Direct Plan (both equity category)
  • Tentative allotment date: February 12, 2026
  • Extended trading hours available until midnight on February 09, 2026 for lumpsum purchases only
  • Transactions without client-initiated funds by 9:00 AM on T+1 will be cancelled
  • Clear funds must be available in ICCL Account by 6:00 PM on February 11, 2026
  • Cheques and OTM payments accepted during NFO period subject to fund clearance deadline
  • Switch transactions accepted during NFO period subject to fund receipt before allotment date

Regulatory Changes

No regulatory changes introduced. This is a standard NFO launch notification.

Compliance Requirements

  • Members must ensure client-initiated funds are received by 9:00 AM on T+1 day to avoid cancellation
  • Pending transactions (with initiated payment) will remain in system until 3:00 PM on the last day of fund payout to AMC or T+5, whichever is earlier
  • CC with N flag will be reported to RTA/AMC for cancelled transactions
  • Clear funds must be available in ICCL Account by 6:00 PM on February 11, 2026 for allotment
  • Switch transactions require funds to be received on or before allotment date; late receipts will not be considered for allotment

Important Dates

  • January 27, 2025: NFO period starts
  • February 09, 2025: NFO period ends (extended till midnight for lumpsum purchases)
  • February 11, 2026, 6:00 PM: Deadline for clear funds in ICCL Account
  • February 12, 2026: Tentative allotment date
  • T+1, 9:00 AM: Deadline for client-initiated funds to avoid cancellation

Impact Assessment

This circular has minimal market-wide impact as it announces a routine NFO launch for a sector-specific ETF focused on infrastructure and logistics. The impact is limited to:

  • Members of BSE StAR MF Platform who wish to participate in the NFO
  • Investors interested in infrastructure and logistics sector exposure through passive ETF investment
  • No impact on existing listed securities or market operations
  • Standard operational procedures apply with specific fund payment timelines for NFO participants

Impact Justification

Routine NFO launch announcement for mutual fund platform with no market-wide regulatory or compliance impact