Groww Mutual Fund has launched a new Open Ended Growth scheme named "Groww Nifty PSU Bank Index Fund" with maturity period of 0 days from the launch date.

The New Fund Offer (NFO) price for the scheme is Rs 10.00 per unit, which will open for subscription from Mar 06 to Mar 20, 2026.

According to the offer document filed with SEBI, the entry and exit load is Nil.

The minimum application amount is Rs 500.00 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth, IDCW, IDCW-Reinvestment.

The fund manager of the scheme will be Nikhil Satam, while the performance of the scheme will be benchmarked against Nifty PSU Bank Total Return.

The investment objective of the Scheme is to generate long-term capital growth by investing in securities of the Nifty PSU Bank Index in the same proportion/weightage with an aim to provide returns before expenses that track the total return of Nifty PSU Bank Index, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.