NEW DELHI: The 2nd tranche of Bharat-22 ETF follow-on be offering was lapped up via institutional buyers on Tuesday, with the portion reserved for anchor bidders getting subscribed 3.44 occasions to the music of Rs five,163 crore.
The govt these days introduced the follow-on fund be offering (FFO) of Bharat-22 Exchange Traded Fund (ETF), comprising shares of 22 firms, to raise up to Rs 8,400 crore from the marketplace.
The issue opened for anchor buyers these days, and received subscriptions from buyers together with mutual budget properties, international portfolio buyers (FPI), insurance coverage and retirement budget.
The FFO will open for subscription for retail and different institutional buyers the following day and will stay open till June 22.
Secretary within the Department of Investment and Public Asset Management Atanu Chakraborty stated, "The Bharat-22 FFO is another opportunity for the investors to participate in the India growth story as represented by the industry leading stocks of the ETF."
ICICI Prudential Mutual Fund controlled Bharat-22 ETF's fund be offering, during which the federal government objectives to mop up Rs 6,000 crore with a inexperienced shoe possibility of elevating another Rs 2,400 crore.
As much as 25 in line with cent of total issue size, or Rs 1,500 crore, was reserved for anchor buyers who installed bids price about Rs five,163 crore, ICICI Prudential AMC stated.
"We are happy to see the continued support received from anchor investors towards the FFO... Now, we look forward to active participation from non-anchor investor category, over the next three days, whereby one has the opportunity to own some of the jewels of Corporate India at a discounted price," ICICI Prudential AMC MD and CEO Nimesh Shah stated.
The govt had in November ultimate year introduced Bharat-22 ETF comprising shares of 22 firms, together with public sector undertakings (PSUs), public sector banks, ITC, Axis Bank and L&T.
The fund had garnered bids to the music of Rs 32,000 crore, although the federal government retained most effective Rs 14,500 crore.
The state-owned firms which are a part of the new Bharat ETF-22 include ONGC, IOC, SBI, BPCL, Coal India and Nalco.
The different central public sector enterprises at the listing are Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL and NLC India. Only 3 public sector banks -- SBI, Indian Bank and Bank of Baroda -- function within the Bharat-22 index.
The govt plans to raise Rs 80,000 crore within the present fiscal from disinvestment, not up to over Rs 1 lakh crore raised ultimate year.
Besides, the federal government will release the initial public providing of railway consultancy company RITES the following day during which it will divest 12 in line with cent stake. The IPO is anticipated to fetch over Rs 460 crore to the exchequer.
Prior to the release of Bharat-22 ETF, which has a diversified portfolio, the federal government had floated the CPSE ETF comprising stocks of 10 bluechip PSUs -- ONGC, Coal India, IOC, GAIL (India), Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.
Through the CPSE ETF, the federal government had raised Rs 11,500 crore in 3 tranches -- Rs 3,000 crore from the primary tranche in March 2014, Rs 6,000 crore from the second one tranche in January 2017 and Rs 2,500 crore from the third tranche in March 2017.
The govt these days introduced the follow-on fund be offering (FFO) of Bharat-22 Exchange Traded Fund (ETF), comprising shares of 22 firms, to raise up to Rs 8,400 crore from the marketplace.
The issue opened for anchor buyers these days, and received subscriptions from buyers together with mutual budget properties, international portfolio buyers (FPI), insurance coverage and retirement budget.
The FFO will open for subscription for retail and different institutional buyers the following day and will stay open till June 22.
Secretary within the Department of Investment and Public Asset Management Atanu Chakraborty stated, "The Bharat-22 FFO is another opportunity for the investors to participate in the India growth story as represented by the industry leading stocks of the ETF."
ICICI Prudential Mutual Fund controlled Bharat-22 ETF's fund be offering, during which the federal government objectives to mop up Rs 6,000 crore with a inexperienced shoe possibility of elevating another Rs 2,400 crore.
As much as 25 in line with cent of total issue size, or Rs 1,500 crore, was reserved for anchor buyers who installed bids price about Rs five,163 crore, ICICI Prudential AMC stated.
"We are happy to see the continued support received from anchor investors towards the FFO... Now, we look forward to active participation from non-anchor investor category, over the next three days, whereby one has the opportunity to own some of the jewels of Corporate India at a discounted price," ICICI Prudential AMC MD and CEO Nimesh Shah stated.
The govt had in November ultimate year introduced Bharat-22 ETF comprising shares of 22 firms, together with public sector undertakings (PSUs), public sector banks, ITC, Axis Bank and L&T.
The fund had garnered bids to the music of Rs 32,000 crore, although the federal government retained most effective Rs 14,500 crore.
The state-owned firms which are a part of the new Bharat ETF-22 include ONGC, IOC, SBI, BPCL, Coal India and Nalco.
The different central public sector enterprises at the listing are Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL and NLC India. Only 3 public sector banks -- SBI, Indian Bank and Bank of Baroda -- function within the Bharat-22 index.
The govt plans to raise Rs 80,000 crore within the present fiscal from disinvestment, not up to over Rs 1 lakh crore raised ultimate year.
Besides, the federal government will release the initial public providing of railway consultancy company RITES the following day during which it will divest 12 in line with cent stake. The IPO is anticipated to fetch over Rs 460 crore to the exchequer.
Prior to the release of Bharat-22 ETF, which has a diversified portfolio, the federal government had floated the CPSE ETF comprising stocks of 10 bluechip PSUs -- ONGC, Coal India, IOC, GAIL (India), Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.
Through the CPSE ETF, the federal government had raised Rs 11,500 crore in 3 tranches -- Rs 3,000 crore from the primary tranche in March 2014, Rs 6,000 crore from the second one tranche in January 2017 and Rs 2,500 crore from the third tranche in March 2017.
Bharat-22 ETF: Investors put in Rs 5,163 cr bids, subscribe 3.44 times
![Bharat-22 ETF: Investors put in Rs 5,163 cr bids, subscribe 3.44 times]()
Reviewed by Kailash
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June 20, 2018
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