Stocks

Bharat 22 ETF fund offer opens for investors on Oct 3

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

The Further Fund Offer 2 (FFO 2) of Bharat 22 ETF to mop-up over Rs 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 program, announced earlier by Ministry of Finance using the ETF route.

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

"The second offer, comes with a 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 Rs 5,000 and up to Rs 2 lakh while it is Rs 10 crore for retirement funds and qualified institutional buyers.

Published on October 02, 2019
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