Groww Nifty EV & New Age Automotive ETF starts trading on NSE as GROWEV
BILKULONLINE
Bengaluru, Ahmedabad, Aug 12: Groww Mutual Fund, today announced the successful listing of the Groww Nifty EV & New Age Automotive ETF on the National Stock Exchange (NSE). The ETF, which opened for trading on August 12, offers investors a unique opportunity to participate in India’s growing electric vehicle and new-age automotive sector growth.
The Groww Nifty EV & New Age Automotive ETF tracks the 3Nifty EV & New Age Automotive Index, which comprises leading companies involved in electric vehicles, hybrid vehicles, and related components. By investing in this ETF, investors gain exposure to a diversified basket of companies driving the future of mobility in India. This diversification can help mitigate risks associated with investing in individual stocks.
Speaking on the company’s ETF Listing, Varun Gupta, CEO Groww AMC said, “India’s EV ecosystem has experienced significant growth in recent years, driven by strong government initiatives and rapid customer adoption. The industry is also undergoing a profound transformation, with new EV companies pursuing IOs and established companies making substantial investments in EV infrastructure. Through Groww EV & New Age Automotive schemes, investors have opportunities for financial growth, while contributing to a greener and more sustainable future of mobility in India.”
The listing of the Groww Nifty EV & New Age Automotive ETF opens the door for investors to buy and sell units on the stock exchange. The Groww Nifty EV & New Age Automotive ETF units are listed and admitted to dealings on the stock exchange under the symbol “GROWEV” starting from August 12, 2024. The series, number of securities, and market lot size will adhere to the Exchange’s standard guidelines. The ETF will be available for trade on all leading brokers and trading platforms. It is Groww Mutual Fund’s first live ETF, marking a significant milestone for the new-age AMC.
