ICICI Prudential Mutual Fund Launches Nifty Infrastructure ETF NFO

ICICI Prudential has announced the launch of ICICI Prudential Nifty Infrastructure ETF, which is an open-ended Exchange Traded Fund (ETF) tracking the Nifty Infrastructure Index. The new fund offering (NFO) opens on 5 August 2022 and closes on 8 August 2022.
With this ETF, ICICI Prudential aims to enable investors to invest seamlessly and benefit from the growing infrastructure sector in the country. Buying a single unit of the ETF would provide investors with diversification within the infrastructure sector.
The ETF will invest in the Nifty Infrastructure Index which is a diversified portfolio of companies representing the Infrastructure sector which includes companies belonging to telecom, power, port, air, roads, railways, shipping and other utility service providers.
The top 10 constituents of the Nifty Infrastructure Index include Apollo Hospitals Enterprise, Oil & Natural Gas Corporation Ltd, Adani Ports and Special Economic Zone Ltd, Grasim Industries Ltd, NTPC Ltd, Power Grid Corporation of India Ltd, UltraTech Cement Ltd, Bharti Airtel Ltd, Larsen & Toubro Ltd and Reliance Industries Ltd.
Investors can buy a unit of the ETF for as low as Rs 1000 and thereafter in multiples of Re 1.
Kayzad Eghlim and Nishit Patel are the fund managers of the ICICI Prudential Nifty Infrastructure ETF.
The infrastructure sector has been one of the biggest focus areas for the Government of India. India plans to spend US$ 1.4 trillion on infrastructure during 2019-23 to have a sustainable development of the country. There is an intense focus from the Government to create world-class infrastructure in India. The increasing impetus to develop infrastructure in the country is attracting both domestic and international players.
Several government initiatives and recent performance suggest growth of the overall Infrastructure sector.



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25th Sept 2020
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