Centre mobilises Rs 14500 crores from Bharat 22

The Central government’s Exchange Traded Fund (ETF) disinvestment project - Bharat 22 has mopped up Rs 14500. Indicating the investors’ interest, the ETF has subscribed four times.

According to market data, Bharat 22 got the highest investors demand for any new ETF offer in India’s mutual fund history. Participation from all categories of investors, including the retail investors crossed the subscription volume.

Bharat 22 is an ETF (Exchange Traded Fund), launched by the government, containing shares of 22 companies including Central Public-Sector Enterprises (CPSEs), Public Sector Banks and shares of some private companies owned by government investment arm SUUTI (Specified Undertaking of Unit Trust of India).

Bharat 22 is the second ETF issued by the government for supporting the disinvestment programme. The first endeavour was the CPSE – ETF (Central Public-Sector Enterprises ETF) that was issued in March 2014 and raised Rs 3,000 crore. The CPSE ETF was a bundle of 10 PSU shares.

The success ETF will help the government’s mammoth disinvestment target of Rs 72500 targeted in the budget. With Bharat 22 success, the government raised Rs 52500 from disinvestment this year. 

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