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Bharat-22 ETF 4th Tranche Likely To Hit Next Month

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The fourth tranche of Bharat-22 ETF is expected to hit the markets in October. ICICI Prudential MF has reportedly filed draft papers with the SEBI. So far the government has fetched a total of Rs. 26,400 crore via the Bharat 22 ETF- Rs. 14,500 crore was collected in November 2017 then later in June 2018 and February 2019, the issue garnered Rs. 8,400 crore and Rs. 3500 crore, respectively.

Bharat-22 ETF 4th Tranche Likely To Hit Next Month
 

"The fourth tranche of Bharat-22 ETF may hit the markets next month," an official with knowledge on the development said.

On Wednesday, ICICI Prudential AMC filed 'Supplement To Scheme Information Document' with Sebi for Bharat-22 ETF FFO 2.

Through the proceeds from the ETF, the government will look to meet its its disinvestment target of Rs 1.05 lakh crore for the current fiscal.

Bharat 22 ETF include CPSEs such as ONGC, SBI, IOC, Coal India, Nalco and BPCL. Other companies constituting Bharat 22 ETF are Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL, NLC India, Axis Bank, ITC and L&T. Further, the Bharat 22 index includes only 3 PSBs namely BOB, SBI and Indian Bank.

GoodReturns.in

Read more about: etf bharat 22 etf disinvestment
Story first published: Friday, September 20, 2019, 14:10 [IST]
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