Description

Groww Mutual Fund launches NFO for Groww Nifty Private Bank ETF on BSE StAR MF Platform from May 6 to May 20, 2026, with tentative allotment date of May 27, 2026.

Summary

BSE has informed members that Groww Mutual Fund will offer the Groww Nifty Private Bank ETF as a New Fund Offer (NFO) on the BSE StAR MF Platform from May 6, 2026, to May 20, 2026. Two plan variants are available — regular and direct — both categorized as equity schemes with a tentative allotment date of May 27, 2026.

Key Points

  • NFO period: May 6, 2026 to May 20, 2026 (extended till midnight for lumpsum purchases)
  • Two schemes: Groww Nifty Private Bank ETF and Groww Nifty Private Bank ETF – Direct Plan (both Equity category)
  • Tentative allotment date: May 27, 2026
  • Clear funds must be available in the ICCL account by 6:00 PM on May 22, 2026
  • Transactions where clients do not initiate funds by 9:00 AM on T+1 day will be cancelled
  • Cancelled transactions will have CC with ‘N’ flag reported to the RTA/AMC
  • Pending transactions (where payment is initiated) remain in system until 3:00 PM on the last day of funds pay-out to AMC or T+5, whichever is earlier
  • Cheque and OTM payments accepted during NFO period subject to clear funds receipt by May 22, 2026 at 6:00 PM

Regulatory Changes

No regulatory changes introduced. This is an operational notice for a new fund launch.

Compliance Requirements

  • Members must ensure clients initiate fund transfers by 9:00 AM on T+1 to avoid transaction cancellation
  • Members must ensure clear funds reach the ICCL account by 6:00 PM on May 22, 2026 for allotment eligibility
  • Members should report cancelled transactions with CC ‘N’ flag to RTA/AMC as required

Important Dates

  • May 6, 2026: NFO subscription opens
  • May 20, 2026: NFO subscription closes (extended till midnight for lumpsum purchases on BSE StAR MF)
  • May 22, 2026 by 6:00 PM: Deadline for clear funds in ICCL account
  • May 27, 2026: Tentative allotment date for both schemes

Impact Assessment

This notice is relevant primarily to BSE members and distributors facilitating mutual fund transactions on the BSE StAR MF platform. Investors in private banking sector ETFs gain a new investment vehicle tracking the Nifty Private Bank index. Operational impact is limited to ensuring payment timelines are met; non-compliance with fund initiation deadlines results in transaction cancellation.

Impact Justification

Routine NFO launch notice relevant to mutual fund distributors and investors; no broad market or regulatory impact but operationally important for members transacting on BSE StAR MF platform.