1 / 2

Bharat 22 ETF opens today, aims to raise Rs 8,000 crore

Bharat 22 ETF opens today, aims to raise Rs 8,000 crore on Business Standard. Bharat 22 ETF aims to bring broad-based ownership pattern to public sector enterprises.

JessicaDsilva
Télécharger la présentation

Bharat 22 ETF opens today, aims to raise Rs 8,000 crore

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bharat 22 ETF opens today, aims to raise Rs 8,000 crore Bharat 22 ETF aims to bring broad- based ownership pattern to public sector enterprises: Department of Investment and Public Asset Management. Bharat 22 ETF opens today, aims to raise Rs 8,000 crore on Business Standard. Bharat 22 ETF aims to bring broad-based ownership pattern to public sector enterprises.

  2. The Bharat 22 Exchange Traded Fund (ETF) announced earlier this year as part of the government’s disinvestment programme will open for investors on Tuesday and end on November 17. With the initial issue size of Rs 8,000 crore, the ETF will open for anchor investors on Tuesday, for non-anchor investors on November 15, and close on November 17, Department of Investment and Public Asset Management (DIPAM) Joint Secretary Anuradha Thakur told reporters here. “Bharat 22 ETF aims to bring broad-based ownership pattern to public sector enterprises. The disinvestment programme now forms the core of the government’s investment strategy,” she said. “While the initial issue size for the ETF is Rs 8,000 crore, we can also consider going beyond looking at the response,” she added. Business News : All you need to know about Bharat 22 ETF A discount of 3 per cent has been offered to all categories of investors. The Bharat 22 ETF comprises 22 companies, or investments, from among central public sector enterprises (CPSEs) and public sector banks (PSBs). “The ETF is well diversified with investments across six core sectors, including industrials, finance, utilities, energy, FMCG (fast moving consumer goods) and basic materials, and offers good investment opportunity and expect an overwhelming response to this new fund offer,” Thakur said. No sector crosses the 20 per cent sectoral capping and there is a stock capping of 15 per cent. An ETF is a traded security that tracks an underlying asset like a group of companies or commodity. The government had earlier approved the alternative mechanism through the ETF route to divest its stake in CPSEs.

More Related