Kotak Mutual Fund launches Nifty Private Bank ETF; NFO opens today

Kotak Mahindra Asset Management Company (KMAMC) has launched the Kotak Nifty Private Bank ETF, an open-ended exchange-traded fund that seeks to replicate the performance of the Nifty Private Bank Index.

The new fund offer (NFO) opened for subscription on July 8, 2026, and will remain open until July 15, 2026.

The ETF will track the Nifty Private Bank Index, which comprises 10 leading private sector banks selected from the Nifty 500 universe based on their free-float market capitalisation. The index follows a rules-based methodology and is rebalanced twice a year.

Speaking on the launch Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company Ltd. said, “At Kotak Mutual Fund, we remain committed to offering innovative investment solutions that align with the evolving need of investors. The Kotak Nifty Private Bank ETF provides investors with a simple and cost-efficient way to participate in the growth of India’s leading private sector banks. This ETF enables investors to gain diversified exposure to a key segment of financial sector through rule-based investment approach.”

Satish Dondapatti, Fund Manager, Kotak Mahindra Asset Management Company Ltd. added, "The Kotak Nifty Private Bank ETF is designed to replicate the performance of Nifty Private Bank Index by investing in its constituents in the same proportion, subject to tracking error. This ETF provides investors with a transparent, passive investment strategy to participate in the long-term growth potential of India’s private banking sector.”