Bharat-22 ETF Gets Stellar Listing on NSE at Rs. 36.11

Bharat-22 ETF gets stellar listing on NSE at Rs. 36.11Bharat-22 ETF (Exchange Traded Fund) got listed at Rs. 36.11 per unit on the National Stock Exchange (NSE), with a 0.4 percent premium over issue price of Rs. 35.97 per unit. Within span of trading time, the ETF jumped 3.82% to Rs.37.40 per unit.

It was on November 20, that the govt raised Rs. 14,500 crore through the sale of blue-chip shares of PSUs through its newest ETF, namely Bharat-22, which got bids for nearly Rs. 32,000 crore. With this, the govt has raised Rs. 52500 crore in the current financial year via PSU disinvestment, including from listing of PSU insurance companies.

The govt had launched the Bharat-22 ETF in August 2017 and had planned to raise Rs. 8000 crore, with an option to retain oversubscription. The first tranche of the ETF offer opened for retail investors on Nov 15 and closed on Nov 17. The Bharat-22 ETF’s new fund offer, having size of over Rs.8000 cr, was managed by the ICICI Prudential MF.