Bharat 22 ETF makes debut with 4% gain
New Delhi, November 28
Bharat 22 Exchange Traded Fund (ETF), comprising 22 companies, made a modest debut on the bourses today, surging nearly 4% over the issue price of Rs 35.97.
The ETF listed at Rs 36.30 per unit on the BSE, up 0.92% over the issue price of Rs 35.97. In the intra-day trade, it had touched a high of Rs 37.38 and a low of Rs 36.30. It closed the session at Rs 37.33, up 3.78%.
On the National Stock Exchange (NSE), the fund settled 3.7% higher at Rs 37.30. It had opened at Rs 36.11 and hit a high of Rs 37.40 in the intra-day trade.
Bharat 22 ETF, managed by ICICI Prudential Mutual Fund, is a unique blend of shares of key CPSEs, Public Sector Banks (PSBs) and also the government-owned shares in blue chip private companies like Larsen & Toubro (L&T), Axis Bank and ITC.
The government raised Rs 14,500 crore through Bharat 22 ETF, which opened for subscription for retail investors from November 15-17. It had an initial issue size of Rs 8,000 crore.
Bharat 22 ETF saw bids of nearly Rs 32,000 crore coming in, with foreign portfolio investors bidding for one-third of the money. — PTI
Smooth ride
- The ETF listed at Rs 36.30 per unit on the BSE, up 0.92% over the issue price of Rs 35.97
- In the intra-day trade, it had touched a high of Rs 37.38 and a low of Rs 36.30. It closed the session at Rs 37.33, up 3.78%
- On the NSE, the fund settled 3.7% higher at Rs 37.30
