Markets

Bharat-22 ETF opens for investment today

Our Bureau Mumbai | Updated on October 02, 2019 Published on October 02, 2019

The FFO 2 is part of the government’s disinvestment programme

The Further Fund Offer 2 (FFO 2) of Bharat-22 Exchange Traded Fund (ETF) to mop-up over ₹2,000 crore will be open for subscription for anchor and non-anchor investors on Thursday and Friday.

Managed by ICICI Prudential Asset Management Company, the FFO 2 is part of the government’s overall disinvestment programme, announced earlier by Ministry of Finance using the ETF route.

ICICI Prudential eyes ₹2,000 cr in this offer

ICICI Prudential AMC proposes to raise up to ₹2,000 crore in this offer with an option to retain oversubscription, subject to government approval.

“The second offer comes with the discount provides an opportunity to partake in the India growth story by way of exposure to diversified companies spread across several sectors which, we believe, are available at attractive valuation,” said Nimesh Shah, Managing Director, ICICI Prudential AMC.

The minimum application amount for retail investors is fixed at ₹5,000 and up to ₹2 lakh while it is ₹10 crore for retirement funds and qualified institutional buyers.

Published on October 02, 2019
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