Bharat 22 ETF makes decent stock market debut, lists at Rs 36.30 on BSE
ETMarkets.com|
Updated: Nov 28, 2017, 03.42 PM IST
NEW DELHI: Bharat 22 ETF on Tuesday made a decent debut on BSE, as the open-ended exchange traded fund got listed at Rs 36.30 per unit on BSE, a 0.91 per cent premium over its issue price of Rs 35.97 per unit.
Within minutes of trading, the ETF was trading 3.86 per cent higher at Rs 37.36 per unit.
The ETF has been included in the BSE B group of securities with a scrip code 540787.
With four times subscription, the Rs 8,000-crore issue had received highest subscription for any new fund offer (NFO) ever. The government later raised the issue size to Rs 14,500 crore.
Also Read: Bharat 22 ETF has stellar listing: Can you still make money from it
Bharat 22 is a well-diversified ETF with basic materials accounting for 4.4 per cent of its weightage, energy 17.5 per cent, finance 20.3 per cent, industrials 22.6 per cent, FMCG 15.2 per cent and utilities 20 per cent.
The weightage of each individual stock in the Index is capped at 15 per cent and each sector in the index is capped at 20 per cent. The ETF includes frontline stocks such as SBI, IOC, Nalco, ONGC, BPCL, NTPC and Bank of Baroda. Besides, it also constituted SUUTI shares in listed companies such as ITC, Larsen & Toubro and Axis Bank.
India Ratings noted that the successful subscription of Bharat 22 Exchange Traded Fund has helped the government move closer to its FY18 non-debt capital receipt target of Rs 72,500 crore, which included disinvestment target of Rs 46,500 crore and strategic disinvestments worth Rs 15,000.
Within minutes of trading, the ETF was trading 3.86 per cent higher at Rs 37.36 per unit.
The ETF has been included in the BSE B group of securities with a scrip code 540787.
With four times subscription, the Rs 8,000-crore issue had received highest subscription for any new fund offer (NFO) ever. The government later raised the issue size to Rs 14,500 crore.
Also Read: Bharat 22 ETF has stellar listing: Can you still make money from it
Bharat 22 is a well-diversified ETF with basic materials accounting for 4.4 per cent of its weightage, energy 17.5 per cent, finance 20.3 per cent, industrials 22.6 per cent, FMCG 15.2 per cent and utilities 20 per cent.
The weightage of each individual stock in the Index is capped at 15 per cent and each sector in the index is capped at 20 per cent. The ETF includes frontline stocks such as SBI, IOC, Nalco, ONGC, BPCL, NTPC and Bank of Baroda. Besides, it also constituted SUUTI shares in listed companies such as ITC, Larsen & Toubro and Axis Bank.
India Ratings noted that the successful subscription of Bharat 22 Exchange Traded Fund has helped the government move closer to its FY18 non-debt capital receipt target of Rs 72,500 crore, which included disinvestment target of Rs 46,500 crore and strategic disinvestments worth Rs 15,000.
