Carnelian Small Cap Fund NFO Closed on 30 Oct: Terms, Allocation and Peers
Key Highlights
Carnelian Small Cap Fund NFO closed 30 Oct 2026. Offer price ₹10, minimum investment ₹500. Allocation, benchmark, peer comparison.
Details as of: 1 November 2026
- Opened 16 Oct 2026 and closed 30 Oct 2026
- Offer price: ₹10 per unit
- Minimum investment: ₹500
- Exit load: 1% on or before 365D, NIL after 365D
- : Nifty Smallcap 250 – TRI
- At least 65% must be in Equities & Equity related instruments of Small cap companies
The Carnelian Small Cap Fund NFO closed on 30 October 2026 after opening on 16 October 2026. This Equity – Small cap Fund scheme set an offer price of ₹10 per unit. Investors participated with a minimum investment of ₹500. Further investments were accepted in multiples of ₹1.
Carnelian Small Cap Fund NFO: key details
| Fund house | Carnelian Mutual Fund |
| Category | Equity – Small cap Fund |
| Opens | 16 October 2026 |
| Closes | 30 October 2026 |
| Offer price | ₹10 per unit |
| Minimum investment | ₹500, then ₹500 in multiples of ₹1 |
| Daily from ₹500 (30 instalments); Monthly from ₹500 (12 instalments); Quarterly from ₹500 (12 instalments); Weekly from ₹500 (12 instalments) | |
| Exit load | 1% on or before 365D, NIL after 365D |
| Benchmark | Nifty Smallcap 250 – TRI |
| Fund managers | Deepak Malik, Viraj Parekh |
| Plans | Regular and Direct plans, with Growth and IDCW options |
What the scheme says it will invest in
The scheme states its objective as follows.
The Scheme seeks to generate long-term capital appreciation by investing predominantly in equity and equity related securities of Small Cap companies.
| Where the money goes | Minimum | Maximum |
|---|---|---|
| Equities & Equity related instruments of Small cap companies | 65% | 100% |
| Equity and related instruments of Companies other than small cap | 0% | 35% |
| Money Market instruments and Other Liquid Instruments | 0% | 35% |
| Units of MF Scheme | 0% | 35% |
| Gold and Silver ETFs as permitted by SEBI | 0% | 35% |
| Units issued by InvITs | 0% | 10% |
The scheme allocates at least 65% of its portfolio to Equities & Equity related instruments of Small cap companies. It may also invest up to 35% in Money Market instruments and Other Liquid Instruments. Additionally, the scheme permits an allocation of up to 10% in units issued by InvITs.
How it compares with existing funds
| Measure | Value |
|---|---|
| Funds in the category | 36 |
| Average 1-year return (31 funds) | 4.72% |
| Average 3-year return, a year (24 funds) | 14.67% |
| Highest 1-year return: TRUSTMF Small Cap Fund | 21.15% |
| Average expense ratio of Direct plans (36 funds) | 0.94% (range 0.49%–2.05%) |
| Fund | NFO period | Assets (₹ crore) | now (Direct Growth) | Change on offer price |
|---|---|---|---|---|
| The Wealth Company Small Cap Fund | 5 March 2026 – 18 March 2026 | 144 | ₹10.89 (30 October 2026) | 8.85% |
| Abakkus Small Cap Fund | 26 February 2026 – 12 March 2026 | 3,248 | ₹11.57 (30 October 2026) | 15.70% |
| Groww Small Cap Fund | 8 January 2026 – 22 January 2026 | 966 | ₹12.09 (30 October 2026) | 20.87% |
| Samco Small Cap Fund | 14 November 2025 – 28 November 2025 | 270 | ₹12.15 (30 October 2026) | 21.50% |
| Helios Small Cap Fund | 6 November 2025 – 20 November 2025 | 1,885 | ₹11.07 (29 October 2026) | 10.70% |
Existing funds in the category reported an average 1-year return of 4.72% across 31 funds. The average expense ratio for 36 funds stood at 0.94%. Among earlier NFOs, the Abakkus Small Cap Fund reached assets of ₹3,248 crore, while the Samco Small Cap Fund recorded a NAV of ₹12.15.
Fund managers
| Name | Role | Experience |
|---|---|---|
| Deepak Malik | 25 Years | |
| Viraj Parekh | Fund Manager | – |
Carnelian Small Cap Fund NFO: FAQs
When does the Carnelian Small Cap Fund NFO open and close?
The NFO opens on 16 Oct 2026 and closes on 30 Oct 2026.
What is the minimum investment in the Carnelian Small Cap Fund NFO?
The minimum investment is ₹500. Further amounts are ₹500 in multiples of ₹1. SIPs: Daily from ₹500 (30 instalments); Monthly from ₹500 (12 instalments); Quarterly from ₹500 (12 instalments); Weekly from ₹500 (12 instalments).
What is the exit load of the Carnelian Small Cap Fund?
The scheme states its exit load as: 1% on or before 365D, NIL after 365D
Who manages the Carnelian Small Cap Fund?
The fund is managed by Deepak Malik, Viraj Parekh.
Which plans does the Carnelian Small Cap Fund have?
Regular and Direct plans, with Growth and IDCW options.
What does the NFO offer price mean?
The offer price is the price per unit at which units are allotted during the NFO, here ₹10. It is not a measure of value, and the fund has no track record to judge until it has run for some time.
What is the benchmark of the Carnelian Small Cap Fund?
The scheme’s benchmark is the Nifty Smallcap 250 – TRI.
Scheme terms from the offer documents; fund data: Accord Fintech. Calculations: ThePip. For information only; not investment advice.