Description

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

Summary

MIRAE ASSET Mutual Fund will launch a New Fund Offer (NFO) for MIRAE ASSET NIFTY INDIA INFRASTRUCTURE & LOGISTICS ETF 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 variants will be available.

Key Points

  • Two scheme variants available: Regular Plan and Direct Plan, both under Equity category
  • NFO extended till midnight on February 09, 2026 for lumpsum purchases only
  • Transactions without client-initiated funds by 9:00 AM on T+1 day will be cancelled
  • Transactions with initiated payments remain pending until 3:00 PM on last day of NFO funds payout to AMC or T+5, whichever is earlier
  • Cheques and OTM payments acceptable during NFO period subject to clear funds receipt
  • Switch transactions accepted during NFO period subject to funds receipt on or before allotment date

Regulatory Changes

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

Compliance Requirements

  • Members must ensure clear funds are available in ICCL Account by 6:00 PM on February 11, 2026 for unit allotment
  • Transactions without client-initiated funds by 9:00 AM on T+1 day will be cancelled and reported to RTA/AMC with CC and N flag
  • For switch transactions, funds must be received on or before NFO allotment date; late receipts will not be considered for allotment

Important Dates

  • NFO Start Date: January 27, 2025
  • NFO End Date: February 09, 2025 (extended till midnight for lumpsum purchases)
  • Clear Funds Deadline: February 11, 2026 by 6:00 PM
  • Tentative Allotment Date: February 12, 2026
  • Payment Initiation Cutoff: 9:00 AM on T+1 day
  • Pending Transaction Deadline: 3:00 PM on last day of NFO payout or T+5, whichever is earlier

Impact Assessment

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

  • Members and distributors on BSE StAR MF Platform who wish to offer this product
  • Investors interested in gaining exposure to India’s infrastructure and logistics sector through an ETF structure
  • No impact on equity markets or existing securities trading
  • Standard operational procedures apply with specific timelines for fund collection and allotment

Impact Justification

Routine NFO launch announcement affecting only mutual fund segment participants interested in this specific ETF scheme