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Saturday, 11 November 2017

Bharat-22 ETF to raise Rs 8000 Cr.


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The government will start the 'Bharat 22' ETF (Exchange Traded Fund), managed by ICICI Prudential MF, to garner about Rs 8000 cr. As per statement, the new fund offer will open for anchor investors on Nov 14 2017, whereas subscription for retail investors will launch from Nov 15 and continue till Nov 17.

Bharat-22 ETF consists of 22 scrips of public sector units, banks and companies in which the govt holds a minority stake.  It is a good opportunity for investors to play a part in some of the best entities with high future growth potential.

The state-owned companies or PSUs that are part of the new ETF are IOCL, ONGC, BPCL, SBI, Coal India Ltd and Nalco.  The other Central PSUs on the list are Bharat Electronics, Engineers India, NTPC, NBCC, SJVNL, NHPC, PGCIL, GAIL India and NLC India.


The govt is expected to fetch an initial amount of Rs. 8,000 cr from the Bharat-22 ETF. ICICI Prudential MF has already filed docs for the new ETF with markets regulator Sebi.
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