Starting January 23, 2026, ICICI Prudential Mutual Fund will allow new subscriptions for the popular ICICI Prudential Small Cap Fund. This means that anyone can easily invest, as all previous restrictions have been lifted. Investors seeking high-growth opportunities will find this news very exciting.
The fund house confirmed that restrictions on investment limits per PAN are now fully withdrawn. From the effective date, you can invest via fresh or additional lump-sum purchases, switches from other ICICI Pru schemes, new SIPs (Systematic Investment Plans) or STPs (Systematic Transfer Plans). So, no more holding back now, the fund is open for business through all these routes.
This comes after a pause that kicked in on March 13, 2024. Back then, SEBI wrote to AMFI, urging industry-wise guidelines to safeguard investors in the schemes of mid and small cap mutual funds amid booming inflows and market heat. In response, ICICI Prudential halted fresh lump-sum buys & switches into the small cap fund.
Must Read: Best Small Cap Mutual Funds for Long Term Investment in 2026
Even during the restrictions, you could still use limited SIPs and STPs. However, these were limited to Rs 2 lakh per PAN per month, based on the first holder or guardian. Here are the limits for SIP and STP for 2024:
| Duration | SIP / STP Amount |
|---|---|
| Daily | ₹ 10,000 |
| Weekly | ₹ 50,000 |
| Every Two Weeks | ₹ 1 lakh |
| Monthly | ₹ 2 lakh |
| Quarterly | ₹ 6 lakh |
Special features like Freedom SIP, SIP Top-up, Booster SIP, Flex STP, Booster STP, Capital Appreciation STP, IDCW transfers and Triggers, were off-limits for any new registrations post-restriction. Most importantly, the existing SIP, STP or special products set up before the curbs and ongoing IDCW reinvestments kept running smoothly without interruption.
This ICICI Prudential Small Cap Fund reopening signals calmer waters in the small-cap space, especially after SEBI pushes for measured growth. If you are eyeing small cap mutual funds in India, this could be your time to act. Keep an eye on market volatility, though small caps give high growth, but come with risks.
