INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The single-day additional offering of Bharat-22 Exchange Traded Fund (ETF) turned out to be a roaring success as the Rs 3,500
crore offer got subscribed over 14 times, aggregating approximately Rs 50,000 crore.
"Bharat-22 ETF (additional offering) received
applications aggregating approximately Rs 50,000 crore and was subscribed over 14 times in one day," ICICI Prudential AMC, the manager of
the issue, said in a statement.
The Additional Offering Period (AOP) set a new record in the ETF space and mutual fund industry in terms of
single-day fundraising for an investment product, ICICI Prudential claimed
The total number of applications received was nearly 1.25 lakh.
The proceeds from the ETF sale would help the government meet its Rs 80,000
crore disinvestment target set for the current financial year.
The foundation of Bharat-22 ETF was laid in Union Budget 2017 and this was
The government has so far raised Rs 22,900 crore through Bharat-22 ETF
While Rs 14,500 crore was raised in November 2017, another Rs 8,400 crore was raised in June 2018
This was the second ETF offering by the government this financial year, which ends in March
In November last year, the government had raised Rs 17,300 crore through a follow-on offer of CPSE ETF, which comprises shares of 11 public
sector enterprises.
The ETF features central public sector enterprises (CPSEs) cush as ONGC, IOC, SBI, BPCL, Coal India and Nalco.
