Bharat-22 ETF likely to be launched in November

New Delhi: An inter-ministerial panel headed by finance minister Arun Jaitley on Monday finalised the launch date and quantum of issuance of Bharat-22 ETF (exchange traded fund).

According to people in the know, Bharat-22 comprises of 22 scrips of public sector units (PSUs), banks and those entities in which the government holds a minority stake. It is likely to be launched next month after the launch of initial public offering (IPO) of New India Assurance, they said.

File image of Finance Minister Arun Jaitley. PTI

File image of Finance Minister Arun Jaitley. PTI

The department of investment and public asset management (DIPAM) Monday took the ministerial panel’s nod for tranche size and launch date, they said without sharing further details. Petroleum minister Dharmendra Pradhan, urban development minister Hardeep Singh Puri, railway minister Piyush Goyal and power minister R.K. Singh are among those on the panel.

The state-owned companies or PSUs that will form part of the new ETF are ONGC, IOC, SBI, BPCL, Coal India and Nalco. It also includes government’s strategic holding in Axis Bank, ITC and L&T held through Specified Undertaking of Unit Trust of India (SUUTI).

The other central public sector entities on the list are Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL and NLC India. Only three public sector banks — SBI, Indian Bank and Bank of Baroda — figure in the Bharat-22 index. The government had raised about Rs8,500 crore through the three tranches of CPSE ETF last fiscal. The first CPSE ETF consisted of scrips of 10 PSUs — ONGC, Coal India, IOC, GAIL (India), Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.


Updated Date: Oct 24, 2017 10:11 AM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See