A further fund offer (FFO) is a offering in a mutual fund like exchange traded fund (ETF). An FFO is different from a further public offer (FPO) or a follow on offer.
In an FPO, an already listed company issues shares to the public afresh. The launch of a mutual fund is called a new fund offer or NFO. The government issues units in FFO at a discount, ranges from 3% to 5%.