NEW DELHI: The 'Bharat 22' Exchange Traded Fund (ETF) comprising 22 scrips of public sector devices, banks and different entities is prone to hit the marketplace on November 15, a senior finance ministry authentic mentioned on Monday.
An inter-ministerial panel headed by way of Finance Minister Arun Jaitley used to be set as much as finalise the launch date and quantum of issuance of the ETF. "Approvals are in place. It is likely to open for subscription on November 15," mentioned the authentic.
The ETF is part of the federal government's disinvestment roadmap.
The amount is not determined yet, but could be upwards of Rs 8,000 crore, the authentic added.
Petroleum Minister Dharmendra Pradhan, Urban Development Minister Hardeep Singh Puri, Railway Minister Piyush Goyal and Power Minister R K Singh are amongst the ones at the inter- ministerial panel.
The state-owned firms or PSUs that may shape a part of the brand new ETF are ONGC, IOC, SBI, BPCL, Coal India and Nalco. It also comprises govt's strategic holding in Axis Bank, ITC and L&T held through SUUTI (Specified Undertaking of Unit Trust of India).
The different Central Public Sector Entities at the listing 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 -- determine within the Bharat-22 index.
The govt had raised about Rs 8,500 crore throughout 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.
An inter-ministerial panel headed by way of Finance Minister Arun Jaitley used to be set as much as finalise the launch date and quantum of issuance of the ETF. "Approvals are in place. It is likely to open for subscription on November 15," mentioned the authentic.
The ETF is part of the federal government's disinvestment roadmap.
The amount is not determined yet, but could be upwards of Rs 8,000 crore, the authentic added.
Petroleum Minister Dharmendra Pradhan, Urban Development Minister Hardeep Singh Puri, Railway Minister Piyush Goyal and Power Minister R K Singh are amongst the ones at the inter- ministerial panel.
The state-owned firms or PSUs that may shape a part of the brand new ETF are ONGC, IOC, SBI, BPCL, Coal India and Nalco. It also comprises govt's strategic holding in Axis Bank, ITC and L&T held through SUUTI (Specified Undertaking of Unit Trust of India).
The different Central Public Sector Entities at the listing 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 -- determine within the Bharat-22 index.
The govt had raised about Rs 8,500 crore throughout 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.
'Bharat 22' ETF likely to hit market on November 15
!['Bharat 22' ETF likely to hit market on November 15]()
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October 30, 2017
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