Following the success of government backed CPSE ETF, you can soon be a part of India's growth story by investing in Bharat 22 ETF as the launch is expected in November. Both the PSUs and private sector companies are part of the ETF.
The ETF will be launched after the New India Assurance IPO is opened for public subscription. The finance minister headed panel decided on the launch date as well as quantum of issuance of Bharat-22 ETF. The department of investment and public asset management (DIPAM) took approval for the launch of the ETF.
Among the several PSUs are IOC, SBI, CIL, Nalco, BPCL and ONGC. Specified Undertaking of Unit Trust of India (SUUTI) of government's stake in private companies including ITC, L&T and Axis Bank also form the part of Bharat 22 ETF.
The other central entities include EIL, Bharat Electronics, NBCC, NHPC, NTPC, GAIL, PGCIL, NLC India and SJVNL. SBI, BOB and Indian Bank are the banking companies in the newly planned ETF.
With Inputs From PTI