Bharat-22 ETF opens today; government eyes Rs 8K crore

All categories of investors will be eligible for a discount of 3 per cent to the reference market price of underlying constituents.

The government will launch the Bharat 22 ETF (Exchange Traded Fund) on Tuesday with a target to garner about Rs 8,000 crore.

The government will have the option to retain any additional amount that it mobilises.

All categories of investors will be eligible for a discount of 3 per cent to the reference market price of underlying constituents.

Anchor investors can apply for a minimum of Rs 10 crore. Among non-anchor investors, retail investors can apply for Rs 5,000 and in multiples of Rs 1 thereafter up to Rs 2 lakh. Other non-anchor investors can apply for a minimum of Rs 2 lakh and in multiples of Rs 1 thereafter. The Bharat 22 ETF, comprises scrips of 22 companies including 19 public sector enterprises, which includes National Aluminium Company, Coal India, State Bank of India, Axis Bank, Indian Bank, Larsen and Toubro and Bharat Electronics among others.

Source:-http://indianexpress.com/article/business/market/bharat-22-etf-opens-today-government-eyes-rs-8k-crore-4936351/

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