Govt Plans 2nd Tranche Of Bharat-22 ETF; ICICI Prudential MF Files Draft Papers


Govt Plans 2nd Tranche Of Bharat-22 ETF; ICICI Prudential MF Files Draft Papers

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

The government had raised Rs 14,500 crore through the first tranche of Bharat-22 Exchange Traded Fund (ETF), which comprises 22 companies, in November last year.

ICICI Prudential Mutual Fund, which is managing the ETF, filed draft papers for a follow-on offer with markets regulator Sebi last week, as per the documents filed with the markets watchdog.

This will be the first ETF offering in the current fiscal, wherein the government has set the target of Rs 80,000 crore through the PSU disinvestment.

The index is a unique blend of shares of key Central Public Sector Enterprises (CPSEs), Public Sector Banks (PSBs) as also government shares in blue chip private companies like Larsen & Toubro (L&T), Axis Bank and ITC. Read More…

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