Bharat-22 Exchange Traded Fund (ETF) additional offering, which will help the government to inch close to its divestment target in fiscal year 2019 has received applications aggregating worth ₹50,000 crore.
“The offering attracted an aggregated subscription amount of approximately ₹50,000 crore from all categories of investors. The total number of applications received stands at approximately 1.25 lakhs,” said a statement issued by ICICI Prudential AMC.
The one-day Additional Offering Period (AOP) managed by ICICI Prudential AMC launched on 14 February saw a subscription of over 14 times, said an official statement.
The sale is part of the government divestment target of ₹80,000 crore set for this fiscal. The government has so far raised ₹22,900 crore through the Bharat-22 ETF. While ₹14,500 crore was raised in November 2017, another ₹8,400 crore was raised in June 2018.
The central public sector enterprises (CPSEs) that are part of the ETF include ONGC, IOC, SBI, BPCL, Coal India and Nalco.
Other constituents include 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 — figure in the Bharat-22 index.