Street signs: Retail investors' loss is everybody's gain

The recently-concluded Bharat-22 exchange-traded fund offered a 3% discount to all investors applying in NFO

In the past, the government has sweetened the deal for retail investors by offering them discounts for applying in share sales. However, the recently-concluded Bharat-22 exchange-traded fund offered a three per cent discount to all investors applying in the new fund offer (NFO). The discount, however, came at the expense of retail investors. “The Employees’ Provident Fund Organisation insisted that it should also get the discount given to retail investors, a request the Centre accommodated, and offered a lower discount to all investors,” said a person privy to the development.

Samie Modak

HDFC Life IPO: Grey market discount stumps punters

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