The objective of Bharat 22 ETF, which mirrors the performance of SP BSE Bharat 22 Index.The government offered additional units of Bharat 22 Exchange-Traded Fund (ETF) on Thursday.
The follow-on offer of Bharat 22 ETF - comprising shares of 22 public sector companies - is as part of the disinvestment program announced by the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance.
Thursday's follow-on offer is the third tranche of sale of the Bharat 22 ETF.
The government plans to raise Rs 3,500 crore via sale of additional units of Bharat 22 ETF, which ends later in the day.
The proceeds from the Bharat 22 ETF sale would help the government move towards meeting its disinvestment target of Rs 80,000 crore for the current fiscal year.: Government Employees Required To Disclose Stock Investment Above 6-Month Basic PayThe objective of Bharat 22 ETF, which mirrors the performance of SP BSE Bharat 22 Index, is to invest in constituents of the Bharat 22 Index in the same proportion as the underlying index.The SP BSE Bharat 22 Index is designed to measure the performance of select companies disinvested by the central government according to the disinvestment program.
It is a highly liquid index - more than 99 per cent of index constituents are available under Futures Options (FO), HDFC Securities said in a research note.: Fixed Deposit (FD) Interest Rates Paid By Major Banks On Deposits Below 1 CroresBharat 22 index constituents and their weightage, as given by the brokerage: