FM launches Bharat-22 ETF; to cover six sectors

ETF to have CPSEs, public sector banks and strategic holding SUUTI

Centre has set up a new exchange-traded fund Bharat-22 to sell government stakes in 22 firms under its asset sale programme, Finance Minister Arun Jaitley told reporters on Friday.

Bharat-22 ETF will consist of the government’s holding in SUUTI, CPSE ETF and PSU banks. It will cover six sectors.

The ETF will include 22 companies. Jaitley said that the ETF will have a single company cap of 15 per cent, and a sectoral cap of 22 per cent.

It will feature four banking stocks -- SBI, Axis Bank, Bank of Baroda and Indian Bank -- other than CPSEs such as Nalco,