An NFO, or New Fund Offer, is a mutual fund scheme's first public subscription window. The AMC announces an open date, sets a fixed entry price around ₹10 per unit, runs the subscription for a fixed period, then closes the window and the scheme starts buying assets at market prices.

Are NFOs good investments?

Most aren't, in the sense that an NFO has no track record, no published portfolio yet and the same expense ratio as a comparable existing scheme that's had 5 or 10 years to prove itself. There are exceptions when an NFO opens a genuinely new asset class or category. The FinSet take next to each NFO calls out which is which.

NFO versus existing fund. Which is better?

An existing fund with a 5-year track record gives a real history of risk-adjusted returns, fund manager behaviour through cycles and actual portfolio holdings. An NFO has none of that. The low-NAV framing some AMCs use is a number illusion since NAV growth depends on the underlying assets and not on the starting price.

How do I apply for an NFO?

Through any SEBI-registered platform that distributes the scheme. Direct plans go through the AMC's own website or app. Regular plans go through a distributor or broker. The minimum investment for most equity NFOs sits between ₹100 and ₹5,000.

What's the minimum NFO investment?

It varies by scheme. Most equity NFOs accept lumpsum from ₹100 to ₹5,000. Index funds and ETFs typically start at ₹500. The exact minimum sits in each scheme's row above.

Why so many NFOs in 2026?

AMCs have a finite number of category slots per SEBI's 2017 categorization rules. They fill empty slots with new schemes. Some launches are genuine category openings. Many are slot-filling exercises that recycle a strategy a sibling fund already runs. The FinSet take on each scheme calls out the difference.

NFOs in India

Updated 20 October 2026

Mutual fund houses launch new schemes most weeks. This page tracks every NFO that's currently open or closing soon in India.

Currently open

Scheme	AMC	Category	Opens	Closes
Aditya Birla Sun Life Financial Services Sectoral Debt Fund	Aditya Birla Sun Life Mutual Fund	Income/Debt Oriented Schemes	Oct 08	Oct 22
Carnelian Liquid Fund	Carnelian Mutual Fund	Income/Debt Oriented Schemes	Oct 12	Oct 26
ICICI Prudential Nifty Pharma ETF	ICICI Prudential Mutual Fund	Exchange Traded Funds (ETFs)	Oct 12	Oct 26
Mirae Asset Fixed Maturity Plan â Series VIâ 3 to 6 Months	Mirae Asset Mutual Fund	Income/Debt Oriented Schemes	Oct 12	Oct 26
Motilal Oswal Nifty Midcap150 Plus 8-13 yr G-Sec 70:30 Index Fund	Motilal Oswal Mutual Fund	Index Funds	Oct 12	Oct 26
quant Nifty 100 Index Fund	quant Mutual Fund	Index Funds	Oct 12	Oct 26
quant Nifty 50 Index Fund	quant Mutual Fund	Index Funds	Oct 12	Oct 26
quant Nifty Midcap 150 Index Fund	quant Mutual Fund	Index Funds	Oct 12	Oct 26
Zerodha BSE TOP 10 BANKS ETF	Zerodha Mutual Fund	Exchange Traded Funds (ETFs)	Oct 12	Oct 26
SBI BSE India Defence ETF	SBI Mutual Fund	Exchange Traded Funds (ETFs)	Oct 13	Oct 27
Mirae Asset Fixed Maturity Plan â Series VIâ 3 to 6 Months	Mirae Asset Mutual Fund	Income/Debt Oriented Schemes	Oct 15	Oct 29
Axis Nifty EV & New Age Automotive Index Fund	Axis Mutual Fund	Index Funds	Oct 16	Oct 30
Carnelian Small Cap Fund	Carnelian Mutual Fund	Equity Schemes	Oct 16	Oct 30
Navi Mutli Asset Omni FoF	Navi Mutual Fund	Fund of Funds Scheme (Domestic)	Oct 19	Nov 02
Samco Equity Savings Fund	Samco Mutual Fund	Hybrid Schemes	Oct 19	Nov 02
Choice Large & Mid Cap Fund	Choice Mutual Fund	Equity Schemes	Oct 20	Nov 03

Recently closed

Scheme	AMC	Category	Closed
HDFC Nifty LargeMidcap250 Plus 8-13 yr G-sec 70:30 Index Fund	HDFC Mutual Fund	Index Funds	Oct 19, 2026
Kotak Nifty 500 Index Fund	Kotak Mahindra Mutual Fund	Index Funds	Oct 19, 2026
JioBlackRock Income Plus Arbitrage Omni FOF	Jio BlackRock Mutual Fund	Fund of Funds Scheme (Domestic)	Oct 19, 2026
Aditya Birla Sun Life BSE Total Market Index Fund	Aditya Birla Sun Life Mutual Fund	Index Funds	Oct 14, 2026
Aditya Birla Sun Life BSE Total Market ETF	Aditya Birla Sun Life Mutual Fund	Exchange Traded Funds (ETFs)	Oct 14, 2026
Nippon India CRISIL-IBX FAR Gilt ETF	Nippon India Mutual Fund	Exchange Traded Funds (ETFs)	Oct 13, 2026
ICICI Prudential Contra Fund	ICICI Prudential Mutual Fund	Equity Schemes	Oct 12, 2026
WhiteOak Capital Diversified Equity Small Cap Active FOF	WhiteOak Capital Mutual Fund	Fund of Funds Scheme (Domestic)	Oct 12, 2026
Mirae Asset Life Cycle Fund 2056	Mirae Asset Mutual Fund	Life Cycle Funds	Oct 12, 2026
Motilal Oswal Nifty REITs & Realty Index Fund	Motilal Oswal Mutual Fund	Index Funds	Oct 09, 2026
DSP BSE Insurance ETF	DSP Mutual Fund	Exchange Traded Funds (ETFs)	Oct 08, 2026
HDFC FTSE India Equity ETF	HDFC Mutual Fund	Exchange Traded Funds (ETFs)	Oct 07, 2026
Zerodha Nifty Next 100 ETF	Zerodha Mutual Fund	Exchange Traded Funds (ETFs)	Oct 05, 2026
SBI Nifty200 Value 30 ETF FOF	SBI Mutual Fund	Fund of Funds Scheme (Domestic)	Oct 01, 2026
Invesco India Nifty Chemical Index Fund	Invesco Mutual Fund	Index Funds	Sep 29, 2026
LAKSHYA OVERNIGHT FUND	Lakshya Mutual Fund	Income/Debt Oriented Schemes	Sep 29, 2026
Invesco India Nifty India Defence Index Fund	Invesco Mutual Fund	Index Funds	Sep 29, 2026
Tata CRISIL-IBX Financial Services 3-6 Months Debt Index Fund	Tata Mutual Fund	Index Funds	Sep 29, 2026
Kotak Nifty Capital Markets Index Fund	Kotak Mahindra Mutual Fund	Index Funds	Sep 29, 2026
HDFC BSE REITS and Commercial Real Estate Index Fund	HDFC Mutual Fund	Index Funds	Sep 29, 2026
JioBlackRock Balanced Advantage Fund	Jio BlackRock Mutual Fund	Hybrid Schemes	Sep 25, 2026
Shriram Gold ETF Passive FOF	Shriram Mutual Fund	Fund of Funds Scheme (Domestic)	Sep 25, 2026
Axis Nifty500 Low Volatility 50 Index Fund	Axis Mutual Fund	Index Funds	Sep 23, 2026
Kotak Multi Sector Omni FOF	Kotak Mahindra Mutual Fund	Fund of Funds Scheme (Domestic)	Sep 22, 2026
Mirae Asset BSE Information Technology Index Fund	Mirae Asset Mutual Fund	Index Funds	Sep 22, 2026

Every fact, dated and sourced. No buy or sell call.