ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » India News

Bharat-22 ETF additional sale on Feb 14, govt to raise at least Rs 3,500 cr

The proceeds from the ETF sale would help the government move towards meeting the Rs 80,000 crore disinvestment target set for the current fiscal.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Bharat-22 ETF additional sale on Feb 14, govt to raise at least Rs 3,500 cr
The next three days are kept open for subscription from retail and other institutional investors. Reuters

 The government will launch an additional offering of Bharat-22 Exchange Traded Fund (ETF) on February 14 to raise at least Rs 3,500 crore, officials said Tuesday.

The ETF sale would be for a single day, in which both institutional and retail investors can participate, they said.

"The additional offering of Bharat-22 ETF would be on February 14. This is an on-tap issuance. The base issue size has been fixed at Rs 3,500 crore, with an option to retain any additional subscription," one of the officials told PTI.

The proceeds from the ETF sale would help the government move towards meeting the Rs 80,000 crore disinvestment target set for the current fiscal.

So far, the government has mopped up approximately Rs 36,000 crore by paring minority stake in public sector companies, and through ETFs.

Conventionally, the follow-on fund offer (FFO) of an ETF remains open for four days in which the first day of the sale is reserved for anchor investors.

The next three days are kept open for subscription from retail and other institutional investors.

Since this is an additional on-tap offering of Bharat-22 ETF, the issue would open for a single day for both institutional and retail buyers.

The government has so far raised Rs 22,900 crore through the Bharat-22 ETF. While Rs 14,500 crore was raised in November 2017, another Rs 8,400 crore was raised in June 2018.

The central public sector enterprises (CPSEs) that are part of the ETF include ONGC, IOC, SBI, BPCL, Coal India and Nalco.

Other constituents include Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL and NLC India. Only three public sector banks -- SBI, Indian Bank and Bank of Baroda -- figure in the Bharat-22 index.

Also, the government's strategic holding in Axis Bank, ITC and L&T, held through Specified Undertaking of Unit Trust of India (SUUTI), has been put in the ETF basket.

This would be the second ETF offering by the government in the current fiscal which ends in March.

Watch This Zee Business Video

In November last year, the government had raised Rs 17,300 crore through a follow-on offer of another exchange traded fund -- CPSE ETF, which comprises shares of 11 public sector enterprises.

This was the biggest-ever fund raising from an ETF domestically.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Bharat-22 ETF
Written By: PTI
Updated: Tue, Feb 12, 2019
01:28 pm
New Delhi, PTI
RELATED NEWS
Budget 2019: PSB ETFs coming? After, Bharat 22, CPSE Exchange Traded Funds, a new disinvestment pattern can emerge Budget 2019: PSB ETFs coming? After, Bharat 22, CPSE Exchange Traded Funds, a new disinvestment pattern can emerge
Govt to launch Bharat-22 ETF follow on offer in Feb, to raise Rs 10,000 cr Govt to launch Bharat-22 ETF follow on offer in Feb, to raise Rs 10,000 cr
Bharat-22 ETF: Anchor investors put in Rs 5,163 cr bids, subscribe 3.44 times Bharat-22 ETF: Anchor investors put in Rs 5,163 cr bids, subscribe 3.44 times
Bharat-22 ETF size increases to Rs 14,500 crore: DIPAM Bharat-22 ETF size increases to Rs 14,500 crore: DIPAM
Bharat-22 ETF: Is it worth investing in this fund? Bharat-22 ETF: Is it worth investing in this fund?

LATEST NEWS

UGC NET 2023: UGC-National Eligibility Test Admit card to be released soon — Check exam date, how to download admit card, other details here

Market Next Week: Tata Steel, Hero Moto, M&M results, RBI policy meeting, macro data, global cues among top cues for D-Street

Kiara Advani and Sidharth Malhotra wedding: Bride-to-be arrives at marriage venue in Jaisalmer

Hindenburg Effect: Axis Bank says exposure to Adani Group is nearly 1% of total loans

ITC Dividend 2023: Check record date, ex-date and payment date | ITC Share Price NSE Target

Apple CEO Tim Cook says India is ‘hugely exciting market’; confirms about opening retail store in the country

Vani Jayaram songs list in Telugu, Malayalam and Kannada: Remembering veteran playback singer who sung over 10,000 songs

Vani Jayaram, veteran playback singer, dies at 77

PIB Fact Check unearths truth behind this viral letter on PM Mudra loan scheme; have you also received any such post?

Stock Split: This small-cap company splits shares in 5:1 ratio after delivering 817% return in 5 years

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV