Govt increases issue size of Bharat 22 ETF to Rs 14,500 cr

New Delhi [India], Nov 20 (ANI): In view of positive response from investors, the government has decided to increase the New Fund Offer (NFO) size of Bharat 22 ETF from Rs. 8,000 crore to Rs. 14,500 crore, to cater to the demand of retail investors and retirement funds; a notification from Department of Investment and Public Asset Management (DIPAM) read.

Bharat 22 ETF, which is an innovative disinvestment route for the Government of India to disinvest its holdings in select CPSEs, strategic holdings of SUUTI, and Public Sector Banks, invited a strong response from all categories of investors including retirement funds and retail investors.

The NFO got subscription of approximately Rs. 32,000 crore from 3,35,000 applications.

This is the highest ever NFO collection in the history of mutual funds in India.

Moreover, the total issue was subscribed around four times.

The response from FPIs and FIIs was also huge and they subscribed to the tune of approximately Rs. 10,000 crores in anchor and non anchor categories.

The NFO of Bharat 22 ETF was launched on November 14 for anchor investors and was available for non-anchor investors from November 15 - 17.

The ETF comprises of 22 companies across six sectors, which includes bluechip and private companies such as Larsen & Tubro (L&T), Axis Bank, and ITC. (ANI)

This story has not been edited. It has been published as provided by ANI