Bharat 22 ETF lists on bourses with modest gains; stock sells at Rs 36.30 per unit on BSE

The government recently raised Rs 14,500 crore through Bharat 22 ETF, which saw bids of nearly Rs 32,000 crore coming in

PTI November 28, 2017 14:34:16 IST
Bharat 22 ETF lists on bourses with modest gains; stock sells at Rs 36.30 per unit on BSE

New Delhi: Bharat 22 Exchange Traded Fund (ETF), comprising 22 companies, listed at Rs 36.30 per unit on BSE on Tuesday, up 0.91 percent over the issue price of Rs 35.97. During the intra-day trade, the ETF had touched a high of Rs 37.37 and a low of Rs 36.30 on BSE. On National Stock Exchange (NSE), the fund opened at Rs 36.11 and hit a high of Rs 37.40 in the intra-day trade.

Bharat 22 ETF lists on bourses with modest gains stock sells at Rs 3630 per unit on BSE

The government recently raised Rs 14,500 crore through Bharat 22 ETF, which saw bids of nearly Rs 32,000 crore coming in, with foreign portfolio investors bidding for one-third of the money.

The portion reserved for retail investors was subscribed 1.45 times; retirement funds - 1.50 times and NIIs and QIBs - 7 times. The issue opened for subscription for retail investors from November 15-17. ICICI Prudential Mutual Fund managed Bharat-22 ETF's new fund offer (NFO) had an initial issue size of over Rs 8,000 crore.

The state-owned companies or PSUs that are part of the new Bharat ETF 22 include ONGC, IOC, SBI, BPCL, Coal India and Nalco. Besides, Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL NLC India, Indian Bank and Bank of
Baroda figure in the ETF.

Updated Date:

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