Bharat 22 ETF subscribed 6 times by anchor investors
Mumbai: ICICI Prudential Mutual Fund-managed Bharat 22 ETF has raised Rs 12,000 crore through wide participation from anchor investors today. The issue has been oversubscribed six times over the initial amount allocated to this category (25 per cent of Rs 8,000 crore).
The NFO received subscriptions from across the board including Mutual Funds, FPI, Insurance and Retirement Funds. The NFO is a part of the larger disinvestment program announced by the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India.
According to Shri Neeraj Kumar Gupta, Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India, “The Bharat 22 ETF is an excellent avenue for investors to participate in some of the best companies with high future growth potential. The ETF is well diversified with investments across six core sectors and offers good prospects for investors.”
“We are delighted to see the overwhelming response received from anchor investors and aiding the Government of India’s disinvestment programme. Over the next three days we look forward to active participation from Non Anchor Investor category who have the opportunity to participate in the India growth story, at a discounted price, through this attractive long term investmentopportunity,” said Nimesh Shah, MD & CEO, ICICI Prudential AMC.
The Scheme opens for Non – Anchor Investors on Wednesday, November 15, and closes on Friday, November 17, 2017.
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Via:: Economic Times – Stocks