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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