The Bharat 22 ETF has been hitting the charts. In its second follow-on issue, (B22ETF) has been subscribed around 10 times. B22ETF has been the driving force by which the government is divesting stake in 22 companies.
Bharat 22 ETF turned out to be a whopping success as its Rs 3,500 crore offer got subscribed over 14 times during its single-day addition offering. The ETF is now priced at an aggregate Rs 50,000 crore.
Bharat 22 ETF set a record breaker among other ETF and mutual funds in terms of single-day fundraising.
Over 1.25 lakh have applied for this ETF.
These ETFs will help the government achieve the disinvestment target of Rs 80,000 for the current financial year.
As of now, the government has raised Rs 22,900 crore through Bharat 22 ETF. In November 2017, Rs 14,500 was raised while in June 2018, Rs 8,400 crore was raised.
The ETF consists of central public sector enterprises (CPSEs) such as ONGC, IOC, SBI, BPCL, Coal India and Nalco.
