Industry

Bharat-22 ETF offer may worth Rs 10,000 crore

The Finance Ministry may come out with a ₹10,000-crore follow-on fund offer of the Bharat-22 exchange traded fund (ETF) as it looks to dilute stake in Coal India to meet the minimum public holding norm.

Besides, the Ministry is keen to take the ETF route to sell off government shares held through SUUTI in private firms — ITC, Axis Bank and L&T, an official said. The government, in November, introduced Bharat-22 ETF comprising shares of 22 firms, including PSUs, public sector banks, ITC, Axis Bank and L&T. The fund had garnered bids to the tune of ₹32,000 crore, although the government retained only ₹14,500 crore.

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Printable version | Feb 19, 2020 12:11:19 PM | https://www.thehindu.com/business/Industry/bharat-22-etf-offer-may-worth-rs-10000-crore/article23577141.ece

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