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ICICI Prudential Asset Management Company (AMC) has announced addendum to Scheme Information Documents (SID) and Key Information Memorandums (KIM) of Exchange Traded Funds (ETF’s) of ICICI Prudential Mutual Fund (MF).

ICICI Prudential MF has informed that pursuant to SEBI communication dated April 28, 2023 with respect to SEBI Circular on ‘Development of Passive Funds’, the threshold of INR 25 crore for direct transaction in the units of the ETFs with the AMC shall not be applicable for the schemes managed by Employee Provident Fund Organisation, India and recognised Provident Funds, approved gratuity funds and approved superannuation funds under Income Tax Act, 1961 until October 31, 2023. In this regard, the SID of the ETFs and notice cum addendum dated June 30, 2022, August 1, 2022 and November 1, 2022 published by the AMC with respect to various ETFs stand partially modified. Accordingly, any order placed for redemption or subscription directly with the AMC must be greater than INR 25 crore and in the respective creation unit size as applicable in the SID. The threshold of INR 25 crore shall not be applicable for the aforementioned category of investors and Market Makers. However, the provision mentioned in the SID with respect to Minimum Application Amount on exchange remains unchanged, accordingly investors can buy/sell ETF units in round lot of 1 unit and in multiples thereof on recognized stock exchanges where the respective ETFs are listed. 

All the other provisions of the SID/KIM of the Scheme except as specifically modified herein above remain unchanged. This Notice-cum-Addendum forms an integral part of the SID/KIM of the ETFs, as amended from time to time.