Can I apply for an New Fund Offer(NFO) through Coin?
What is an NFO?
An AMC opens a new fund offer (NFO) when it’s launching a new mutual fund. Through the NFO the fund house aims to raise money to purchase the underlying securities of the fund it is launching.
Where can I apply for the NFO?
You can check out all the active NFOs here.
Why isn’t the NFO option available on the Coin app?
NFO order placement will be available in the upcoming updates to the Coin app. For now, you can open this webpage in your mobile browser and place orders. The page is responsive and works perfectly.
Can I modify the amount?
Yes, you can modify the amount from the order window on the NFO page.
Can I Start a SIP while applying for an NFO?
No, but you can start a SIP once the units are allotted to you and post the scheme is open for further purchase and redemption.
Where can I track the status of my NFO order?
The order status will be shown on the NFO page itself.
Note: NFO statuses will not be shown under the order history on Coin web or mobile app until allotment.
How long is an NFO period open?
Generally, an NFO period is open for 15 days but this is left to the discretion of the fund house.
What is the minimum purchase in an NFO?
This is decided by the AMC.
When will the funds be deducted for my order?
We collect orders throughout the NFO period and upload the orders on the final day of the NFO period. You need to maintain sufficient funds in your trading account as of the last day of the NFO.
When will the units be allotted?
The units will be generally allotted within 5 working days of the closure of the NFO date. You will receive a confirmation email regarding the allotment from our end.
At what price will the allotment happen?
All NFO units are usually allotted at Rs 10 unless specified otherwise.
When can I buy the units if I miss applying for the NFO?
You can buy and sell the units just like other funds once the fund open for continuous purchase. Funds will usually be available for continuous purchase within a week of the NFO closing.
Will the funds from the sale of stocks or closing of F&O positions be considered?
Make sure that you have sufficient funds in your trading account as of the end of the day to ensure that your order is placed successfully. Proceeds from the sale of stocks, mutual funds or from F&O positions closed on the same day will not be considered.