2nd Tranche Of Bharat-22 ETF Planned By Government

April 2, 2018

After the blockbuster performance in the first tranche, the government plans to hit the market with the follow-on offer of Bharat-22 ETF. The government has planned with ICICI Prudential Mutual Fund filing draft papers for the second round.

It is estimated that the government had raised Rs 14,500 crore through the first tranche of Bharat-22 Exchange Traded Fund. This includes 22 companies, in November last year.

The ETF is managed by ICICI Prudential Mutual Fund. It has filed draft papers for a follow-on offer with markets regulator SEBI last week.

It is believed that this will be the first ETF offering in the current fiscal. In this ETF, the government is expecting to achieve the target of Rs 80,000 crore through the PSU disinvestment.

One of the analysts informed that the index is a unique blend of shares of key Central Public Sector Enterprises, Public Sector Banks along with the government shares in blue chip private companies like Larsen & Toubro, Axis Bank and ITC.

The State-owned companies are part of the new Bharat ETF 22. Some of them are ONGC, IOC, SBI, BPCL, Coal India and Nalco.
 

About Neha Singh

I am a content writer at Money Classic Research. I am first a Fashionista and then a writer. Born and brought up in the heart of India. I am better known for my creativity and passionate nature. I have expertly written content for magazines as well as for blogs.
By: Neha Singh

Leave a Reply

Your email address will not be published. Required fields are marked *