New Delhi, Aug 13 (PTI) Nippon India Mutual Fund on Friday said it has collected Rs 2,860 crore through the new fund offer (NFO) of its Flexi cap fund.

Over 2.5 lakh investors spread across 2,398 cities invested in the NFO through both digital and offline mode, the company said in a statement.

Also Read | iQOO 8 Pro Teased To Get 50W Wireless Charging, iQOO 8 Series To Feature 120W Fast Charging.

Further, more than 53,000 SIP (systematic investment plan) applications were received, reflecting long-term commitment of many investors and distributors for the product.

The scheme-- Nippon India Flexi Cap Fund-- is an open-ended dynamic equity scheme investing across large-cap, mid-cap, small-cap stocks that allow investors to participate in opportunities across market caps.

Also Read | Adi Godrej to Step Down as Chairman of Godrej Industries Ltd on October 1, Younger Brother Nadir Godrej To Succeed Him.

The company said that the fund is well-positioned to increase allocation to large caps during times of uncertainty and at the same time benefit from the growth potential of mid and small caps curing market uptrends.

"We are truly humbled by the trust shown by more than 2.52 lakh investors who invested Rs 2,860 crore in the recently concluded NFO of Nippon India Flexi Cap Fund," Sundeep Sikka, ED, and Chief Executive Officer, Nippon India Mutual Fund said.

"This is in addition to the trust of 15 lakh new investors that have joined Nippon India Mutual Fund in the last 15 months taking the investor count to 75 lakh unique investors," he added.

According to him, the NFO reflects our strong distribution capabilities, sound digital infrastructure, and trust in the company's brand.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)