Govt raises Rs 14,500 cr from first tranche of Bharat 22 ETF

According to divestment secretary Neeraj Gupta, the issue saw robust participation from foreign investors

The government has raised Rs 14,500 crore through the Bharat 22 Exchange Traded Fund (ETF), comprising 22 companies, a top official said today.

"We have decided to retain Rs 14,500 crore of the total subscription that has come in for Bharat 22 ETF," Department of Investment and Public Asset Management (DIPAM) Secretary Neeraj Gupta said.

The ETF saw bids of nearly Rs 32,000 crore coming in, with FIIs bidding for one-third of the money.

The portion reserved for retail investors was subscribed 1.45 times; retirement funds -- 1.50 times and NIIs and QIBs -- 7 times.

With this, the government has raised Rs 52,500