Upcoming NFO: UTI Mutual Fund Files Draft for Nifty India Internet Index Fund with SEBI

UTI Mutual Fund has filed the Scheme Information Document (SID) for the UTI Nifty India Internet Index Fund with SEBI. Dated July 27, 2026, the document describes it as an open-ended scheme tracking the Nifty India Internet Total Return Index (TRI).  

Units will have a face value of ₹10 during the New Fund Offer (NFO).  

Fund to Track Nifty India Internet TRI 

The scheme will follow the composition of the Nifty India Internet TRI, with at least 95% of its total assets invested in securities forming part of the index. The remaining portion can be held in money market instruments, cash and cash equivalents or liquid mutual funds. 

The scheme may also use index futures, options and other permitted derivatives for portfolio rebalancing. Its performance will be benchmarked against the Nifty India Internet TRI.  

Investment Details 

The scheme will have Regular and Direct Plans, with only the Growth Option. The minimum investment is ₹1,000. The scheme summary states that there is no entry load and no exit load.  

The AMC has estimated annual scheme expenses of up to 0.90% of daily net assets. New Fund Offer expenses will be borne by the AMC.  

Companies in the Index 

The Nifty India Internet Index covers companies from the Nifty Total Market that conduct business largely through online platforms. Stock weights are based on free-float market capitalisation, with individual weights capped at 20% during rebalancing.  

As of June 30, 2026, Eternal Ltd had the highest weight at 20.48%, followed by PB Fintech Ltd at 12.38% and One 97 Communications Ltd at 10.55%. FSN E-Commerce Ventures Ltd and Info Edge (India) Ltd had weights of 9.34% and 8.22%, respectively.  

Swiggy Ltd accounted for 7.46% and Angel One Ltd for 4.72%. Other stocks included Billionbrains Garage Ventures, IRCTC, Motilal Oswal Financial Services, CarTrade Tech and Meesho. 

Index Review and Fund Management 

The index is reviewed and reconstituted in March and September using six months of data. The methodology provides for a minimum of 10 stocks.  

Sharwan Kumar Goyal is the fund manager, while Lokesh Kulthia is the assistant fund manager. Goyal has 20 years of experience in risk and fund management, according to the SID.  

Read More: JioBlackRock Flexi Cap Fund Adds Bandhan Bank, PNB and 13 Others; Exits Vedanta, 17 Stocks in July 2026! 

Conclusion 

The proposed fund will track the Nifty India Internet TRI through a passive investment strategy. Its portfolio will change in line with revisions to the underlying index. 

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 are subject to market risks, read all the related documents carefully before investing.