What is iNAV and how to view it on Kite?

iNAV stands for Intraday or Indicative Net Asset Value and is used to calculate the fair value of an ETF. Unlike mutual fund units, which are allotted based on the NAV, ETF units are bought and sold based on demand and supply in the market.

To view the iNAV of an ETF on Kite, search iNAV on the marketwatch and click on Add.

Orders placed on iNAV instruments are rejected, and the following error is displayed on Kite:

Did you know? As per SEBI guidelines (PDF), iNAVs must be published by AMCs. However, not all iNAVs are updated on a real-time basis by the AMCs and are therefore not updated on Kite. Check the AMC website to learn the latest iNAV of an ETF before taking a trade. To learn more about ETFs, visit zerodha.com/varsity/chapter/exchange-traded-funds-etf.