Millennium Post

Sebi extends new fund offer period to 30 days for RGESS

Market regulator Sebi has notified regulations that allowed mutual funds to accept investors' money in new plans under the Rajiv Gandhi Equity Savings Scheme (RGESS) for 30 days, as against a 15-day subscription period allowed for other schemes.

The relaxation has been made only for mutual fund schemes under RGESS, a government initiative aimed at attracting small investors into the capital market.

In a circular dated 19 June, Sebi that the subscription period or the window for which a new fund offer (NFO) of a mutual fund scheme remains open has been extended to 30 days.Generally, an NFO remains open for a period of 15 days.
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