The News Scroll 19 September 2019  Last Updated at 5:54 pm | Source: PTI

Bharat-22 ETF 4th tranche may hit mkts in Oct; ICICI Pru MF files draft papers with Sebi

Bharat-22 ETF 4th tranche may hit mkts in Oct; ICICI Pru MF files draft papers with Sebi
New Delhi, Sep 19 (PTI) The government is likely to launch the fourth tranche of Bharat-22 ETF next month with ICICI Prudential Mutual Fund filing draft papers with markets regulator Sebi.

The decision has been taken after receiving robust response for earlier stake-sale by the government in the product.

The government has so far raised Rs 26,400 crore through the Bharat-22 Exchange Traded Fund -- Rs 14,500 crore was garnered in November 2017, another Rs 8,400 crore was mopped up in June 2018 and Rs 3,500 crore in February this year.

ICICI Prudential Asset Management Company filed ''Supplement To Scheme Information Document'' with Sebi on Wednesday for Bharat-22 ETF FFO 2.

"The fourth tranche of Bharat-22 ETF may hit the markets next month," an official privy to the development said.

Proceeds from the ETF will help the government meet its disinvestment target of Rs 1.05 lakh crore for the current fiscal.

The Central Public Sector Enterprises (CPSEs) that are part of the Bharat-22 ETF include ONGC, IOC, SBI, BPCL, Coal India and Nalco.

Other constituents are Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL, NLC India, Axis Bank, ITC and L&T.

Only three public sector banks -- SBI, Indian Bank and Bank of Baroda -- figure in the Bharat-22 index. PTI SP ANU ANU

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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