Groww EV ETF garners Rs 130 crore from 1.7 lakh investors
The new fund offer or NFO of Groww Nifty EV & New Age Automotive ETF was open for subscription from July 22 to August 2. The NFO of Groww Nifty EV & New Age Automotive ETF FOF was open from July 24 to August 7.
Over 1.7 lakh investors invested ~130 cr in Groww Nifty EV & New Age Automotive ETF and FOF in 15 days. The ETF, which opened for trading on August 12, offers investors a unique opportunity to participate in India’s growing electric vehicle and new-age automotive sector growth.
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The Groww Nifty EV & New Age Automotive ETF tracks the Nifty EV & New Age Automotive Index, which comprises leading companies involved in electric vehicles, hybrid vehicles, and related components. By investing in this ETF, investors gain exposure to a diversified basket of companies driving the future of mobility in India. This diversification can help mitigate risks associated with investing in individual stocks.
Groww Nifty EV & New Age Automotive ETF will allocate 95-100% in equities and equity-related securities of companies engaged in or expected to benefit from Electric Vehicles & New Age Automotive Themes, 0-5% in money market instruments/debt securities, instruments and/or units of debt/liquid schemes of domestic mutual funds.
Groww Nifty EV & New Age Automotive ETF FOF will allocate 95-100% in units of Groww Nifty EV & New Age Automotive ETF or similar ETF tracking the Nifty EV & New Age Automotive Index, and 0-5% in
