NFO: ICICI Prudential Nifty EV & New Age Automotive ETF Opens for Subscription on Mar 21

ICICI Prudential Mutual Fund has announced the launch of the ICICI Prudential Nifty EV & New Age Automotive ETF, an open-ended exchange-traded fund (ETF) designed to track the performance of the Nifty EV & New Age Automotive Index. For investors who do not have a Demat account, the fund house is also introducing the ICICI Prudential Nifty EV & New Age Automotive ETF Fund of Funds (FOF), enabling wider participation in this emerging sector.

The ETF will be available for subscription from March 21, 2025, to April 2, 2025, while the FOF will be open for investment from March 28, 2025, to April 10, 2025.

Both schemes seek to offer exposure to India’s growing electric vehicle (EV) ecosystem and new-age automotive sector, encompassing electric 2-wheelers, 3-wheelers, passenger and commercial vehicles, battery manufacturers, component suppliers, raw material providers, and automotive technology companies.

Investment Focus and Benchmark

This new fund is designed to offer exposure to companies operating in the electric vehicle (EV) and new-age automotive ecosystem. The portfolio comprises electric two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, battery manufacturers, component suppliers, raw material providers, and automotive technology firms. The scheme follows the Nifty EV & New Age Automotive TRI as its benchmark index.

Minimum Investment Requirements:

• ETF: ₹1,000 (plus in multiples of ₹1) during the NFO
• FOF: ₹1,000 (plus in multiples of ₹1) during both the NFO and ongoing offer period

About the Nifty EV & New Age Automotive Index

The Nifty EV & New Age Automotive Index includes a selection of companies that are actively contributing to the EV transition in India. The top 10 stocks in the index represent a balanced mix of key players in EV manufacturing, hybrid automobile production, and advanced automotive technology.

Final Thoughts

The launch of the ICICI Prudential Nifty EV & New Age Automotive ETF and FOF provides an investment avenue for those looking to participate in the rapidly growing EV sector. While the fund offers diversified exposure to the new-age automotive industry, potential investors should carefully assess their risk appetite before making investment decisions.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.