ICICI Prudential Asset Management Company Ltd. has unveiled Bharat 22 ETF, an open-ended exchange traded fund, part of the Centre’s disinvestment programme.
The new fund offer will be open Nov. 14-Nov. 17 and aims to raise an initial amount of ₹8,000 crore. A discount of 3% on the reference market price of underlying constituents is being offered to all categories of investors.The ETF mirrors the S&P BSE Bharat 22 Index, which comprises select government-owned companies, stakes held under the Specified Undertaking of the Unit Trust of India (SUUTI) and public sector banks. The total expense ratio of the fund is up to 1 basis point, the lowest in the Indian ETF market, a statement said.
