The mutual fund has filed an offer document with the Securities and Exchange Board of India (Sebi) to this effect. An open-ended equity linked saving scheme aims at providing long-term capital appreciation by investing predominantly in a portfolio of equity and equity related securities.

It also aims to build classified portfolio across major industries and economic sectors by using "fundamental analysis" approach of research, valuation and stock selection. The minimum subscription amount for the scheme would be Rs 500 with additional amounts in multiples of Re 1 thereof.

The face value of the unit is Rs 10. The scheme offers "anytime" repurchase facility at NAV based price after the expiry of lock-in period. The unitholders could switch their investment to other open-ended schemes managed by IDBI mutual fund at NAV related prices after the expiry of the lock-in-period.