Axis Mutual Fund is looking to raise about ₹1,500 crore through the new fund offer (NFO) of Axis Equity Hybrid Fund.
The fund will invest between 65 and 80% in equity and equity-related instruments, and the rest in debt and money market instruments.
“Axis Equity Hybrid Fund is a retail product. We are looking at participation of 70,000 retail investors and aims to garner around ₹1,500 crore,” Axis MF’s managing director and chief executive officer, Chandresh Kumar Nigam, told reporters here.
The new fund offer will open on July 20 and close on August 3.
