Government launches BHARAT-22
Exchange Traded Fund
The government will launch the ‘Bharat 22’
exchange traded fund (ETF) managed by ICICI Prudential Mutual Fund, targeting
an initial amount of about Rs8,000 crore. The new fund offer will be open for
subscription till 17 November and a discount of 3% is being offered to all
categories of investors.
“While our initial issue size for Bharat 22 ETF is Rs8,000 crore, we can
also consider going beyond looking at the response in the market,” said
Anuradha Thakur, joint secretary, Department of Investment and Public Asset
Management (DIPAM) in the ministry of finance.
The ETF is part of the government’s overall disinvestment programme, and
mirrors the S&P BSE Bharat 22 Index, which comprises select companies from
the CPSE (central public sector enterprises) universe, stakes held under the
Specified Undertaking of the Unit Trust of India (SUUTI), and state-run banks.
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