ICICI Prudential Mutual Fund has introduced the ICICI Prudential Conglomerate Fund, a conglomerate-themed scheme under the Sectoral/Thematic category.
It is an open-ended equity fund, with subscriptions open from October 3 to October 17, 2025. The fund will invest in around 71 conglomerate groups, covering approximately 240 companies across various sectors.
Start Investing from ₹1,000
The minimum investment during the New Fund Offering (NFO) is ₹1,000. The fund’s benchmark is the BSE Select Business Groups Index.
Investors can choose to invest across large-cap, mid-cap, and small-cap stocks. The scheme will be managed by Lalit Kumar.
According to Sankaran Naren, Executive Director (ED) and Chief Investment Officer (CIO) of ICICI Prudential AMC, India’s large business groups have evolved significantly over the years.
They have entered organized retail, transformed telecommunications, and moved into sectors like renewable energy and semiconductors. These companies demonstrate flexibility, foresight, and strength with scale.
Through this fund, ICICI Prudential aims to capture the growth and resilience of large business groups, offering investors a theme that reflects India’s changing growth story.
Understanding the Conglomerate Theme
What is a Conglomerate Group?
Conglomerate groups are promoter-led business groups headquartered in India, with at least two or more listed companies in different sectors.
Their strong promoters and diversified business allow them to withstand economic downturns, expand into emerging sectors, and seize new opportunities.
The ICICI Prudential Conglomerate Fund will invest in promoter groups owning at least two listed companies in different industries, targeting around 71 groups and 240 companies across sectors.
The fund house notes that global challenges, such as tariffs, supply chain issues, and high debt costs, are affecting growth and increasing inflation.
However, large business groups are better positioned to handle these pressures and continue growing their market share.
Why This Theme?
ICICI Prudential highlights that large conglomerates have strong fundamentals and offer a blend of stability and growth.
They generate high operating cash flow, making it easier to meet capital and working capital needs. Their strong credit ratings also allow access to affordable loans.
Conglomerates benefit from technology partnerships and large customer bases, which reduce costs. Their diversified revenue streams help them survive tough business cycles, acquire weaker competitors, and expand even during recessions.
Many large conglomerates are also active in fast-growing sectors, including renewable energy, semiconductors, and electric mobility.
