Govt to dispatch Bharat-22 ETF pursue on offer in Feb, to raise Rs 10,000 cr

Govt to dispatch Bharat-22 ETF pursue on offer in Feb, to raise Rs 10,000 cr 

New Delhi: The legislature is intending to raise about Rs 10,000 crore through a pursue on offer of Bharat-22 ETF in February, an authority said. 

"Plans are on for propelling the third tranche of Bharat-22 ETF around February. The offer is probably going to have a base issue size of Rs 5,000 crore, with a green-shoe alternative to hold an over-membership of equivalent sum, taking the aggregate issue size to Rs 10,000 crore," the authority told PTI. 

The legislature has so far raised Rs 22,900 crore through the Bharat-22 trade exchanged reserve (ETF). While Rs 14,500 crore was brought up in November 2017, another Rs 8,400 crore was brought up in June 2018. 

The authority said there would be a need to rebalance the ETF after the third tranche as the administration holding in specific CPSEs in the bushel could fall beneath 53 percent. 

The Central Public Sector Enterprises (CPSEs) that are a piece of the Bharat-22 ETF incorporate ONGC, IOC, SBI, BPCL, Coal India and Nalco. 

Different constituents incorporate Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL and NLC India. Just three open division banks - SBI, Indian Bank and Bank of Baroda - figure in the Bharat-22 file. 

Likewise, the administration's vital holding in Axis Bank, ITC and L&T held through SUUTI (Specified Undertaking of Unit Trust of India) has been placed in the ETF bin. 

A month ago, the legislature had raised Rs 17,300 crore through a pursue on offer of another trade exchanged reserve - CPSE ETF, which contains offers of 11 open segment endeavors. 

As against the planned disinvestment focus of Rs 80,000 crore, the administration has so far raised Rs 34,000 crore by moving minority stake in CPSEs and ETFs.

Comments