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Bharat 22 ETF to open for public subscription on November 15

Bharat 22 ETF to open for public subscription on November 15

Finance
NEW DELHI: Bharat 22 exchange traded fund (ETF) is all set to open for public subscription on November 15, ICICI Prudential Asset Management Company while filing the launch documents for the open-ended ETF said on Saturday. Anchor investors could participate in the new fund offer (NFO) on November 14, it said. The NFO will close on November 17. Announced in August this year, the government intends to raise in excess of Rs 8,000 crore from the NFO. The ETF would mirror the S&P BSE Bharat 22 Index that comprises of select companies from the CPSE universe, stakes held under the Specified Undertaking of the Unit Trust of India (SUUTI) and public sector banks (PSBs). These include ONGC, IOC, SBI, BPCL, Coal India and Nalco, among others. Besides, Axis Bank, ITC and L&T are a few st...