Contents
Key details of the Zerodha BSE TOP 10 BANKS ETF NFO
| Fund house | Zerodha Mutual Fund |
|---|---|
| Category (AMFI) | Exchange Traded Funds (ETFs) - Equity ETF |
| Scheme type | Open Ended |
| NFO opens | 12 October 2026 |
| NFO closes | 26 October 2026 |
| After the NFO | Reopens within 5 business days of allotment; units are to list on NSE and BSE. |
| Offer price | ₹100 a unit |
| Minimum investment | ₹1,000 |
| Exit load | Nil |
| Benchmark | BSE Top 10 Banks TRI |
| Fund managers | Kedarnath Mirajkar |
| Maximum expense ratio | Up to 0.90% a year, before taxes and levies |
| Scheme information document | Read on AMFI (PDF) |
What Zerodha BSE TOP 10 BANKS ETF will invest in
The scheme information document states the objective as: “The investment objective of the scheme is to invest in stocks comprising the BSE Top 10 Banks Index in the same proportion as in the index to achieve returns equivalent to the Total Return Index of BSE Top 10 Banks Index (subject to tracking error).”
How it compares with existing BSE Top 10 Banks index funds and ETFs
- 4 ETFs already track the BSE Top 10 Banks, according to AMFI's NAV list.
What to check before investing in this NFO
- The ₹10 price is not a discount. Units start at ₹100 only to set the unit count. Returns depend on how the fund's investments move, in percentage terms, exactly as for an existing fund.
- Cost and tracking error decide the difference. Every fund on the same index holds the same shares, so the fund with the lower expense ratio and the smaller tracking error usually delivers more. A new fund's tracking error is unknown until it has run for a while; existing BSE Top 10 Banks index funds and ETFs already have a record.
- Overlap with what you already own. If you already hold a fund on the same or a broader index, a new one may add little: the underlying shares can be largely the same.
- Direct plan and costs. The direct plan pays no distributor commission, so its expense ratio is lower than the regular plan’s. Over many years the difference compounds.
- Buying and selling after listing. After the NFO, ETF units trade on the stock exchange, so you need a demat account. Check trading volumes and how close the market price stays to the NAV.
After the NFO closes
Units are allotted after the offer closes. The ETF then lists on the stock exchange, where its units trade during market hours. Reopens within 5 business days of allotment; units are to list on NSE and BSE.
Once a fund has a record, Genvest Research shows its returns against its benchmark, volatility and drawdowns.
Questions people ask
The NFO closes on 26 October 2026. Fund houses can extend or close an NFO early, so check the fund house's notices close to the date.
The minimum is ₹1,000 during the NFO, according to AMFI's listing. Units are offered at ₹100 each.
No. The ₹100 starting price only sets the unit count. What you earn depends on the percentage change in the fund's investments, which is the same whether a unit costs ₹100 or ₹500.
No exit load is listed for this scheme.
The scheme information document names BSE Top 10 Banks TRI as the benchmark.
The scheme information document names Kedarnath Mirajkar as the fund manager.
That depends on what you already own and why you would add this fund. A new fund has no record of its own, so compare it with existing BSE Top 10 Banks index funds and ETFs: their costs, their returns over several years and how much they overlap with funds you hold. This page explains the facts; it is not a recommendation.
Other NFOs open now
| Fund | Type | Closes | Minimum | Existing funds |
|---|---|---|---|---|
| ICICI Prudential Contra FundICICI Prudential | Contra | 12 OctCloses today | ₹1,000 | 4 in the category |
| Mirae Asset Life Cycle Fund 2056Mirae Asset | Life cycle | 12 OctCloses today | ₹5,000 | 3 in the category |
| Nippon India CRISIL-IBX FAR Gilt ETFNippon India | ETF · CRISIL-IBX FAR Gilt | 12 OctCloses today | ₹1,000 | First on this index |
| WhiteOak Capital Diversified Equity Small Cap Active FOFWhiteOak Capital | Fund of funds | 12 OctCloses today | ₹500 | – |
| Aditya Birla Sun Life BSE Total Market ETFAditya Birla Sun Life | ETF · BSE Total Market | 14 OctCloses in 2 days | ₹500 | First on this index |
| Aditya Birla Sun Life BSE Total Market Index FundAditya Birla Sun Life | Index fund · BSE Total Market | 14 OctCloses in 2 days | ₹500 | First on this index |
| Aditya Birla Sun Life Financial Services Sectoral Debt FundAditya Birla Sun Life | Sectoral debt | 14 OctCloses in 2 days | ₹100 | 1 in the category |
| Carnelian Liquid FundCarnelian | Liquid | 14 OctCloses in 2 days | ₹500 | 46 in the category |
Sources
- AMFI new fund offer list, checked 12 Oct.
- Zerodha BSE TOP 10 BANKS ETF scheme information document.
- AMFI daily NAVs to 9 Oct, for existing funds.
This page is educational research based on AMFI data and scheme information documents. It is not a recommendation to invest in any scheme, or personalised investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past performance of other funds does not indicate how a new fund will perform. Registration granted by SEBI, enlistment with IAASB and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.