ICICI Prudential Launches Conglomerate Fund, NFO Opens on October 3

ICICI Prudential Mutual Fund has announced the launch of the ICICI Prudential Conglomerate Fund, an open-ended equity scheme. The fund will invest in promoter-led groups with at least two listed companies operating across multiple sectors. The scheme seeks to capture the growth potential of India’s leading conglomerates while offering diversification. It will be benchmarked against the BSE Select Business Groups Index.

Fund Details

The New Fund Offer (NFO) will open for subscription on October 3 and close on October 17. The scheme will be actively managed by Lalit Kumar, according to the fund house. Investors can subscribe with a minimum application amount of ₹1,000 during the NFO period. Units will be available in both growth and income distribution options.

The fund house said the product is designed to give exposure to established business groups with proven track records. By targeting promoter-led conglomerates, the scheme aims to capture structural growth opportunities across industries. ICICI Prudential believes this approach can help mitigate sector-specific risks and provide long-term value creation.

Investment Universe

The fund’s investment universe covers around 71 conglomerate groups with nearly 240 listed companies across India. These include large-cap leaders, as well as mid- and small-cap businesses that are part of diversified promoter-led structures. The broad exposure is intended to capture the full spectrum of opportunities available within Indian conglomerates.

ICICI Prudential highlighted that conglomerates typically operate with stronger balance sheets and lower capital costs. They also enjoy the ability to allocate resources quickly into sunrise sectors such as renewable energy and semiconductors. This flexibility can help them manage downcycles and adapt to global volatility.

Market Context

The launch comes at a time when global markets are facing heightened volatility and uncertainty. Trade disruptions, inflationary pressures, and high borrowing costs continue to weigh on investor sentiment. According to the fund house, diversified business groups are better placed to withstand such conditions. Their sectoral spread allows them to capture market share even during challenging cycles.

India’s evolving economy provides opportunities for conglomerates to scale across multiple sectors. With growing demand in new-age industries and strong financial discipline, promoter-led groups remain central to India’s equity markets. The scheme seeks to leverage these strengths and offer investors long-term wealth creation avenues.

Read More: Ongoing NFOs This Week (Sep 29–Oct 4): Key Schemes 

Conclusion

The ICICI Prudential Conglomerate Fund is positioned as a thematic product aimed at capturing the strength of India’s largest business groups. By investing in diversified promoter-led structures, the scheme intends to balance risks while unlocking long-term potential.

The NFO window between October 3 and October 17 provides investors with the chance to participate early. ICICI Prudential expects the fund to deliver resilience and growth amid evolving market conditions.