New NFO alert! ICICI Prudential BSE Power ETF closes this week — Deadline, minimum amount, allocation, expected returns

ICICI Prudential Mutual Fund on Monday launched a new fund offer (NFO) for the ICICI Prudential BSE Power ETF, an open-ended Index Exchange Traded Fund that tracks the BSE Power Index. It gives subscribers exposure to the entire power value chain — across generation, transmission, integrated utilities and heavy electrical equipment, the company said in an official release.

“India’s power sector is at an important juncture, with rising electricity consumption, expanding industrial activity and large-scale infrastructure development creating opportunities across the power value chain. With the launch of ICICI Prudential BSE Power ETF, investors can access a diversified basket of companies across this value chain through a single investment,” Vipin Bhandari, Head – Retail Business, ICICI Prudential AMC said in the release.

ICICI Prudential BSE Power ETF — All you need to know

• NFO close date: The NFO, which opened on Monday, 26 October will close on Friday, 30 October.

The release added that MICR cheques will be accepted till up to 30 October, while e-payments and RTGS requests will be accepted till the end of business hours up to 30 October 2026.

• Portfolio allocation: Exposure to the entire power value chain as the BSE Power Index comprises constituents of BSE 500 Index that are classified as per the following Basic Industries as defined in the common India Industry Classification Structure — Heavy Electrical Equipment, Power Generation, Integrated Power Utilities, Power-Transmission, Power Trading, Power Distribution and Other Electrical Equipment.
• Expected returns: Notably, the BSE Power Index has delivered a CAGR of 20% over five years, 17% over three years and 8% over one year. Data as on 30 September, showed, the release said.

The statement noted that the sector has growth potential, with electricity demand up more than 5× since 2000, and as GDP and urban centres expand. India’s installed capacity is projected to rise from 596 GW (2025) to 1,154 GW (2034), marking a CAGR of 7.24%, driven by strong government policy, industrial expansion, and diversified generation mix, it added.

• Stock cap and weighing: Index constituents are weighted by their float-adjusted market cap, subject to an individual stock weight cap of 25%.
• Why BSE Power Index? Covering BSE 500 companies across heavy electrical equipment, power generation, integrated power utilities, power transmission, power trading, power distribution and other electrical equipment, the index has 17 constituents and they are weighted by free-float market capitalisation, subject to an individual stock weight cap of 33% and a basic industry weight cap of 30%.

In terms of sectors, utilities make up 59.59% of the index and industrials the remaining 40.41%. By market capitalisation, the index has a large-cap tilt with 75.57% large caps and 24.42% mid caps. The top ten constituents together account for 78.90% of the index. The index is reconstituted semiannually in June and December and rebalanced quarterly.

• Who are the managers? The ETF will be managed by Nishit Patel, Ashwini Bharucha and Venus Ahuja, according to the statement.
• What is the estimated risk level? The scheme is classified as ‘very high risk’, as per the release.
• Exit Load: Nil
• Minimum Application Amount: During NFO ₹1,000 and in multiples of Re 1.
• Minimum Investment Amount (Post Allotment): On stock exchanges investors can buy/sell units of the Scheme in round lot of 1 unit and in multiples thereof.

While directly with the MF, authorised participant(s) / investor(s) can buy or sell units of the scheme in creation unit size viz. 32,000 units and in multiples thereof.

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