According to a CNBC-TV 18 report, the ETF’s first tranche is expected to be released on November 14.
Bharat-22 Exchange Traded Fund (ETF) is expected to add close to Rs 10,000 crore to government’s disinvestment kitty.
According to a CNBC-TV 18 report, the ETF’s first tranche is expected to be launched on November 14.
The ETF will invest in 22 stocks of which 19 will be public sector companies.
The government will retain the oversubscriptions that come with the New Fund Offering (NFO). Also, the appreciation in the Bharat-22 is higher at 9.9 percent as compared to the Nifty and the Sensex appreciation rates.
The report states that the first tranche is said to contribute to the government’s drive towards disinvestment, which currently stands at Rs 38,000 crore from its new investment proceeds.For more details, hear in CNBC-TV18's Sapna Das