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Tuesday, 28 November 2017

Govt transfers NCL India shares of Rs 39 cr to Bharat-22 ETF


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The government has transferred Rs 39.00 crore worth shares of NLC India Limited (Cement manufacturing company) to Bharat 22 ETF. After the transfer, the shareholding of the President is 1,28,46,03,208 shares, which is 84.04% of equity shares of the company, according to the regulatory filing.
On Nov 20, the govt raised Rs 14,500 crore through the sale of blue-chip shares of PSUs through its newest exchange traded fund (ETF), called ‘Bharat-22”, which got bids of nearly Rs.32000 cr, a mutual fund record, whereby the govt has raised Rs 52,500 cr in the current financial year via PSU disinvestment, including from listing of PSU insurance companies.
The govt had launched the Bharat-22 ETF in August month envisaging raising Rs 8000 crore, with an option to retain over-subscription. The first tranche of the new fund offer opened for retail investors on Nov 15 and closed on Nov 17.The Bharat 22 ETF’s new fund offer has a size of over Rs 8,000 crore.

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