This article is more than 2 year old.

Bharat-22 ETF's 4th tranche opens today: All you need to know

Mini

The latest Bharat 22 ETF issue managed by ICICI Prudential Fund will open for anchor investors on October 3 and for other institutional and retail investors on October 4.

Bharat-22 ETF's 4th tranche opens today: All you need to know
The fourth tranche of Bharat 22 exchange-traded fund (ETF) will open today. The Bharat 22 ETF was set up by the Department of Investment and Public Asset Management as part of its disinvestment programme to sell the government's stakes in central public sector enterprises (CPSEs) and other corporate entities. The government has so far raised around Rs 35,900 crore through Bharat-22 ETF—Rs 14,500 crore in November 2017, Rs 8,400 crore in June 2018 and Rs 13,000 crore in February 2019.
Here are the key details of the fourth instalment of the Bharat 22 ETF.
*
The issue managed by ICICI Prudential Fund will open for anchor investors on October 3 and for other institutional and retail investors on October 4.
* The investors would get a 3 percent discount over the issue price.
* "The offer is likely to have a base issue size of Rs 2,000 crore, with a greenshoe option to retain another Rs 6,000 crore, taking the total amount to Rs 8,000 crore," PTI reported, citing a source privy to the development.
* Retail investors can invest with the minimum amount of Rs 5,000 and in multiples of Rs 1 thereafter. The maximum investment amount can be of Rs
2 lakh.
* Non-institutional investors, QIBs and retirement funds can invest with a minimum investment amount of more than Rs 2 lakh.  Anchor investors can invest with the minimum application amount of Rs 10 crore.
* The CPSEs, which are part of the Bharat-22 ETF, include ONGC, IOC, SBI, BPCL, Coal India and Nalco. Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL, NLC India, Axis Bank, ITC and L&T are the other constituents.
* Only three public sector banks -- SBI, Indian Bank and Bank of Baroda -- figure in the Bharat-22 index.
next story

Market Movers

Currency

CompanyPriceChng%Chng