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Bharat-22 Exchange Traded Fund (ETF), which opened on Tuesday for anchor investors, received strong response. The portion set aside for anchor investors got subscribed by six times to the tune of ₹12,102.97 crore on the opening day.
As many as 44 anchor investors, including mutual funds, foreign portfolio investors, insurance companies and retirement funds, subscribed to the ETF.
Morgan Stanley, LIC, Bank of India, SBI Pension Fund, HDFC ERGO Insurance, Banaras Hindu University and Monsoon Alternative Investment Trust are among the investors to have put in their bids.
The issue opens for retail subscription on Wednesday. It will close on November 17.
The Finance Ministry expects to garner ₹8,000 crore from the Bharat-22 ETF.
The Centre plans to raise ₹72,500 crore from stake sales in public sector undertakings this fiscal, including ₹15,000 crore from strategic disinvestment and ₹11,000 crore from listing of public sector insurers.
“Major reforms such as the Insolvency and Bankruptcy Code, liberalisation of the foreign direct investment regime and revival package for discoms have been undertaken, which market experts believe will fuel growth in the economy and may benefit the underlying stocks in ETF,” said the Finance Ministry.
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