Bharat 22 Exchange Traded Fund

Bharat-22 exchange traded fund fourth tranche sees 27 times subscription

The final amount raised will depend upon how much of additional amount government decides to retain

Govt to launch Bharat-22 ETF's 4th tranche; may add Rs 8k-cr to exchequer

The investors would get a 3 per cent discount over the issue price

Govt plans 2nd tranche of Bharat-22 ETF; sets target of raising Rs 800 bn

The government plans to hit the market with the follow-on offer of Bharat-22 ETF after the blockbuster performance in the first tranche, with ICICI Prudential Mutual Fund filing draft papers for the second round. The government had raised Rs 14,500 crore through the first tranche of Bharat-22 Exchange Traded Fund (ETF), which comprises 22 companies, in November last year. ICICI Prudential Mutual Fund, which is managing the ETF, filed draft papers for a follow-on offer with markets regulator Sebi last week, as per the documents filed with the markets watchdog. This will be the first ETF offering in the current fiscal, wherein the government has set the target of Rs 80,000 crore through the PSU disinvestment. The index is a unique blend of shares of key Central Public Sector Enterprises (CPSEs), Public Sector Banks (PSBs) as also government shares in blue chip private companies like Larsen & Toubro (L&T), Axis Bank and ITC. The shares of the government companies represent six ...

Bharat-22 offers better value than Sensex and Nifty: Nimesh Shah

Diversification across sectors to benefit from govt policies, relative attractiveness to benchmark indices will draw investors to the NFO, says MD & CEO of ICICI Prudential AMC

'Bharat 22' ETF to raise over Rs 8,000 crore; to open on Nov 15

The 'Bharat 22' Exchange Traded Fund (ETF), comprising 22 scrips of public sector units, will hit the capital market next month to mop up over Rs 8,000 crore for the government. The new fund offer (NFO), managed by ICICI Prudential Mutual Fund, will open for anchor investors on November 14, while subscription for retail investors would begin from November 15 and continue till November 17. An upfront discount of 3 per cent would be offered to all category of investors, the fund house said. "Approvals are in place. It is likely to open for retail subscription on November 15," said a Finance Ministry official. The ETF will help government meet its ambitious Rs 72,500 crore disinvestment target for the current fiscal. The state-owned companies or PSUs that are part of the new ETF are ONGC, IOC, SBI, BPCL, Coal India and Nalco. It also includes government's strategic holding in Axis Bank, ITC and L&T held through SUUTI (Specified Undertaking of Unit Trust of India). The