ICICI Prudential Nifty Private Banks ETF
PVTBANIETF.BO
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- ICICI Prudential Nifty Private Banks ETF (PVTBANIETF.BO) is an exchange-traded fund that seeks to replicate the performance of the Nifty Private Bank Index before expenses, subject to tracking error, by investing in the constituent stocks of the index in the same weightage; it maintains a passive investment strategy with an expense ratio of 0.15%, synthetic replication method, and assets under management exceeding ₹3,300 crore as of late 2025. The ETF provides investors exposure to leading private sector banks listed on Indian stock exchanges, including top holdings such as HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, and IndusInd Bank; it may allocate 0-5% to money market instruments including TREPs for liquidity and redemption needs, and engages in securities lending up to 20% of net assets as permitted. Launched on August 9, 2019, and managed by ICICI Prudential Asset Management Company Limited, headquartered at One BKC, Bandra Kurla Complex, Mumbai, India, the ETF trades on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with ISIN INF109KC18U7. In a significant recent development, ICICI Prudential Mutual Fund launched the ICICI Prudential Nifty Private Bank Index Fund, an open-ended mutual fund replicating the same Nifty Private Bank Index, with its New Fund Offer opening on July 1, 2025, and closing on July 14, 2025; this complements the ETF by offering a non-tradable, NAV-based alternative for long-term investors seeking low-cost exposure to private banking stocks. The ETF continues to operate without reported acquisitions, funding rounds, or major reorganizations in the past 1-2 years, focusing on index rebalancing within 7 days of constituent changes to minimize tracking error below 2% annually. It targets institutional and retail investors interested in the Indian private banking sector, with operations confined to India and benchmarked against the Nifty Private Bank Total Return Index (TRI).