Centre eyes Rs 12,000 crore through Bharat 22 ETF

Success of GIC Re and Bharat 22 ETF could add over Rs 20,000 crore to the govt's disinvestment kitty

The Centre is looking to raise as much as Rs 12,000 crore from retail investors this Diwali by divesting holdings in 22 companies through the Bharat 22 exchange traded funds (ETFs). 

According to sources, the new fund offer (NFO) could hit the market in the last week of October or early November. It will have a core size of Rs 5,000 crore to Rs 6,000 crore, with an option to retain oversubscription of the same amount. 

Sources said the government was giving final touches to the Bharat 22 ETF, which has already obtained the market regulator Securities and