Diabytes
Bharat-22 ETF News
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The bank exchange traded fund (ETF) would be in addition to the two ETFs -- CPSE ETF and Bharat-22 ETF -- launched by the government which have seen huge investor demand.
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The additional 'on-tap' offering of Bharat-22 ETF was opened for a single day with a base issue size of Rs 3,500 crore and an option to retain over-subscription.
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The ETF sale would be for a single day, in which both institutional and retail investors can participate.
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An ETF is a traded security that tracks an underlying asset like a group of companies or commodity.
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The government had in November last year launched Bharat-22 Exchange Traded Fund (ETF).
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The investors would get a 2.5 per cent discount over the issue price.
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The shares of the state-run companies represent 6 core sectors of the economy - finance, industry, energy, utilities, fast moving consumer goods (FMCG) and basic materials.
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Compared to energy heavy CPSE ETF, Bharat 22 is a well diversified portfolio with 6 sectors (basic materials, energy, finance, FMCG, industrials & utilities).
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