ICICI Prudential launches India's first silver ETF

Asset management company ICICI Prudential Mutual Fund has launched the country's first silver ETF that will invest in physical silver and silver-related instruments.

The new fund offer (NFO) is open for subscription from January 5 and concludes on January 19.

This comes after Sebi in November issued operating norms for the introduction of silver ETFs. Under the rules, these ETFs have to invest at least 95 percent of their net assets in silver and silver-related instruments.

The ICICI Prudential Silver ETF is an open-ended scheme that will track the domestic prices of silver.

To know more about the ETF, CNBC-TV18 spoke to Chintan Haria of ICICI Prudential Asset Management.