What is an NFO and how to apply for it on Coin app?

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.

To apply for an NFO on Coin app, follow these steps:

1. Tap on Ongoing NFOs.
2. Tap on Apply from the list of open NFOs.
   
3. Select the payment method.
4. Enter the investment amount.
5. Tap on Buy.
6. Tap on Invest.
7. Tap on Pay now and complete the payment.

Once the order is placed, it will be displayed under Orders.

Did you know?

• From the closure date, until the NFO gets listed for regular purchase, it will not show in the order history or holdings.Once the NFO is listed, it takes upto 2 working days for the average price to get updated.
• The units will be allotted as per the AMC after the NFO closure.
• Growth plans are available in NFO.
• Normal scheme NFO is open for 15 days, and ELSS can be open for up to 3 months.