The NFO will open for anchor investors on Tuesday and for non- anchor investors on November 15 and close on November 17. "In this ETF, the Retirement Fund has been made separate category of investors", a finance ministry statement said.
The ETF, which plans to raise at least ₹8,000 crore, will track the S&P BSE Bharat-22 Index and will consist of 22 stocks of central public sector enterprises, public sector banks and some strategic holdings of SUUTI (Specified Undertaking of the Unit Trust of India). In case of spill-over, additional portion will be allocated giving preference to retail and retirement funds.
These companies would benefit from government reforms and initiatives such as financial inclusion, digitisation, Make in India, Goods & Services Tax (GST) and infrastructure reforms and belong to six sectors like basic materials, energy, finance, fast-moving consumer goods (FMCG), industrials and utilities.
ICICI Prudential Mutual Fund managed Bharat 22 ETF's new fund offer (NFO) has size of over Rs8,000 crore. "We are delighted to see the overwhelming response received from anchor investors and aiding the Government of India's disinvestment programme".
This ETF comprises leading companies from the private sector having an exposure of 39 per cent to the fund while the rest are public sector firms. "The disinvestment programme now forms the core of the government's investment strategy", Department of Investment and Public Asset Management (DIPAM) Joint Secretary Anuradha Thakur said. Among non-anchor investors, retail investors can apply for Rs 5,000 and in multiples of Rs 1 thereafter up to Rs 2 lakh.
Other companies under Bharat-22 are: Maharatanas and Navratanas such as Coal India, GAIL, Power Grid Corporation of India Ltd. (PGCIL), National Thermal Power Corporation (NTPC), Indian Oil Corporation Ltd., Oil & Natural Gas Corporation (ONGC), Bharat Petroleum, and National Aluminum Company (NALCO), three Public Sector Banks such as SBI and Bank of Baroda.
The government had raised about Rs8,500 crore through the two tranches of CPSE ETF last fiscal.
She is married to British entrepreneur Maximillion Copper and is stepmother to his four children. "I feel like we're dating now". Eve joins Julie Chen , Sharon Osbourne , Sara Gilbert , and Sheryl Underwood at the co-hosts table.
Breakthrough Player of the Year in 2016, the British lock Mario Itoje was also nominated for a second consecutive year. The voting for fans was opened on Monday and will run until Sunday midnight on World Rugby's official website.
Posting a picture of Olly's track Flaws , she wrote: "Love this track @ollymurs you sound like an angel makes me want to cry x". Melanie, meanwhile, shares two children - Roman, 15, and Valentino, 12 - from her first marriage to actor Daniel Caltagirone .
My coach growing up nicknamed me "Showtime" because I love playing in front of people, and there is always a lot going on. Jack Sock has revealed that he was forced out of his room at 4am on Tuesday morning due to a fire alarm at his hotel.
The Terrific Ten have finally arrived in their debut trailer, and they quickly put every other superhero team to shame. Zach Galifianakis! Jennifer Aniston! It was a night of surprises for Kimmel, and that included when J.J.
SEGA has officially announced the first entry in its Total War spin-off series , which pits the Vikings against Great Britain. According to the press release, this will be the most detailed Total War campaign map ever made.
She shared a story of a male lawmaker - still in Congress - who asked a young female staffer to bring materials to his residence. The House may soon follow. "There is no place for sexual harassment in our society, period".
NMDC net profit up 10% at Rs
Solar Industries India today reported a 24 per cent increase in its net profit at Rs 45.74 crore for the September quarter. The gas utility marketed 5 per cent more gas by volume during the quarter in consideration, the statement said.
Taylor Swift sets 'Reputation' tour dates
So basically, when it comes to burning up the Billboard album charts, Taylor Swift is mainly in competition with herself. Swift reportedly kept " Reputation " off streaming services like Apple Music and Spotify for the first week of release.
Flames burn Blues in wild win
Steen tied it at 11:46 and then Ferland's power-play goal restored Calgary's one-goal lead at 12:31. Get prep sports breaking news alerts from the Gwinnett Daily Post staff delivered to your email.
US Senate Holds Hearing on President's Nuclear Authority
The hearing was called by the Republican Chairman of the Senate Foreign Relations Committee, Senator Bob Corker of Tennessee. Despite rallying 13 co-sponsors in the Senate, the measure has no Republican support and has gained little traction.
FDA chief warns about kratom to treat opioid addiction
It asked the FDA to expedite a scientific and medical evaluation and a recommendation for how to handle the compounds in kratom. It's taken recreationally for its euphoric effects, as a dietary supplement, to treat anxiety and depression, and more.
Apple Watch Can Detect Hypertension And Sleep Apnea
If Cardiogram and Saxon are right, medical-grade notifications may soon nestle among those for our Snaps, likes, and texts. Sleep apnea was detected in more than 1,016 participants, while hypertension was identified in 2,230 participants.