Description

Groww Mutual Fund is launching GROWW NIFTY PSU BANK ETF NFO on BSE StAR MF Platform from March 06 to March 20, 2026, with tentative allotment on March 30, 2026.

Summary

Groww Mutual Fund is launching the GROWW NIFTY PSU BANK ETF as a New Fund Offer (NFO) on the BSE StAR MF Platform. The NFO opens on March 06, 2026, and closes on March 20, 2026, with two plan options: a regular plan and a direct plan. Tentative allotment is scheduled for March 30, 2026.

Key Points

  • NFO period: March 06, 2026 to March 20, 2026 (extended till midnight on March 20 for lumpsum purchases)
  • Two schemes available: GROWW NIFTY PSU BANK ETF and GROWW NIFTY PSU BANK ETF - DIRECT PLAN (both categorized as Equity)
  • Tentative allotment date: March 30, 2026
  • Clear funds must be available in ICCL Account by 6:00 PM on March 24, 2026
  • Cheques and OTM payments are acceptable during NFO period, subject to receipt of clear funds by 6:00 PM on March 24, 2026

Regulatory Changes

No regulatory changes introduced. This is an operational notice for the launch of a new ETF NFO on BSE StAR MF Platform.

Compliance Requirements

  • Members must ensure client funds are initiated by 9:00 AM on T+1 day; transactions without initiated funds by this time will be cancelled and reported to RTA/AMC with a CC+N flag
  • Transactions with initiated payment remain pending until 3:00 PM on the last day of funds payout to AMC, or T+5, whichever is earlier
  • Clear funds must be credited to the ICCL Account by 6:00 PM on March 24, 2026, to qualify for unit allotment

Important Dates

  • March 06, 2026: NFO opens
  • March 20, 2026: NFO closes (extended till midnight for lumpsum purchases on BSE StAR MF)
  • March 24, 2026: Deadline for clear funds in ICCL Account (by 6:00 PM)
  • March 30, 2026: Tentative allotment date for both schemes

Impact Assessment

This NFO provides investors with a new avenue for exposure to PSU bank stocks through a passively managed ETF tracking the Nifty PSU Bank Index. Members on BSE StAR MF Platform need to ensure payment processing timelines are met to avoid transaction cancellations. The impact is primarily operational for mutual fund distributors and members facilitating client subscriptions.

Impact Justification

Routine NFO launch announcement for a new ETF on BSE StAR MF Platform; relevant to mutual fund members and investors interested in PSU bank sector exposure.