ICICI Prudential Contra Fund NFO open until 12 Oct 2026. Offer price ₹10, minimum investment ₹1,000. Allocation, benchmark, peer comparison.
Details as of: 9 October 2026
- Open until 12 Oct 2026 (opened 28 Sep 2026)
- Offer price: ₹10 per unit
- Minimum investment: ₹1,000
- Exit load: 1% on or before 1M, NIL after 1M
- Benchmark: NIFTY 500 – TRI
- At least 80% must be in Equity & Equity related instruments following contrarian investment strategy
The ICICI Prudential Contra Fund NFO is open until 12 October 2026. This Equity – Contra Fund opened for subscription on 28 September 2026. The scheme offers units at an offer price of ₹10 per unit. Investors can participate in the NFO with a minimum investment of ₹1,000.
ICICI Prudential Contra Fund NFO: key details
| Fund house | ICICI Prudential Mutual Fund |
| Category | Equity – Contra Fund |
| Opens | 28 September 2026 |
| Closes | 12 October 2026 |
| Offer price | ₹10 per unit |
| Minimum investment | ₹1,000, then ₹1,000 in multiples of ₹1 |
| SIP | Daily from ₹100 (6 instalments); Fortnightly from ₹100 (6 instalments); Monthly from ₹100 (6 instalments); Weekly from ₹100 (6 instalments); Quarterly from ₹5,000 (4 instalments) |
| Exit load | 1% on or before 1M, NIL after 1M |
| Benchmark | NIFTY 500 – TRI |
| Fund managers | Sankaran Naren, Dharmesh Kakkad, Sakshat Goel, Gaurav Chikane |
| 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.
To generate long-term capital appreciation by investing in Equity & Equity related instruments following contrarian investment strategy. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
| Where the money goes | Minimum | Maximum |
|---|---|---|
| Equity & Equity related instruments following contrarian investment strategy | 80% | 100% |
| Other Equity and Equity related instruments | 0% | 20% |
| Gold and Silver ETFs | 0% | 20% |
| Money market instruments, Other Liquid instruments & Units of Overnight funds, Liquid funds and Money Market Funds | 0% | 20% |
| Units issued by INVITs | 0% | 10% |
The scheme allocates at least 80% to equity and equity-related instruments using a contrarian investment strategy. It may invest 0% to 20% in other equity instruments, gold and silver ETFs, or money market instruments. The fund also allocates 0% to 10% to units issued by INVITs.
How it compares with existing funds
| Measure | Value |
|---|---|
| Funds in the category | 5 |
| Average 1-year return (3 funds) | −5.64% |
| Average 3-year return, a year (3 funds) | 11.54% |
| Highest 1-year return: Kotak Contra Fund | −4.93% |
| Average expense ratio of Direct plans (4 funds) | 1.18% (range 0.78%–2.27%) |
| Fund | NFO period | Assets (₹ crore) | NAV now (Direct Growth) | Change on offer price |
|---|---|---|---|---|
| Bandhan Contra Fund | 10 August 2026 – 24 August 2026 | 1,713 | ₹9.44 (8 October 2026) | −5.59% |
| Motilal Oswal Contra Fund | 8 May 2026 – 22 May 2026 | 446 | ₹10.24 (8 October 2026) | 2.41% |
Existing funds in this category reported an average 1-year return of −5.64% and an average expense ratio of 1.18%. Among earlier NFOs, Bandhan Contra Fund holds assets of ₹1,713 crore with a NAV of ₹9.44. Motilal Oswal Contra Fund holds assets of ₹446 crore and currently reports a NAV of ₹10.24.
Fund managers
| Name | Role | Experience |
|---|---|---|
| Sankaran Naren | Chief Investment Officer – Equity | 21 Years |
| Dharmesh Kakkad | Fund Manager | 9 Years |
| Sakshat Goel | Investment Analyst | 4 Years |
| Gaurav Chikane | Fund Manager | 6.5 Years |
ICICI Prudential Contra Fund NFO: FAQs
When does the ICICI Prudential Contra Fund NFO open and close?
The NFO opens on 28 Sep 2026 and closes on 12 Oct 2026.
What is the minimum investment in the ICICI Prudential Contra Fund NFO?
The minimum investment is ₹1,000. Further amounts are ₹1,000 in multiples of ₹1. SIPs: Daily from ₹100 (6 instalments); Fortnightly from ₹100 (6 instalments); Monthly from ₹100 (6 instalments); Weekly from ₹100 (6 instalments); Quarterly from ₹5,000 (4 instalments).
What is the exit load of the ICICI Prudential Contra Fund?
The scheme states its exit load as: 1% on or before 1M, NIL after 1M
Who manages the ICICI Prudential Contra Fund?
The fund is managed by Sankaran Naren, Dharmesh Kakkad, Sakshat Goel, Gaurav Chikane.
Which plans does the ICICI Prudential Contra 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 ICICI Prudential Contra Fund?
The scheme’s benchmark is the NIFTY 500 – TRI.
Scheme terms from the offer documents; fund data: Accord Fintech. Calculations: ThePip. For information only; not investment advice.
