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Bharat-22 Exchange Traded Fund (ETF)

Published on October 04, 2019
Current context: The Government has launched the fourth tranche of the Bharat-22 ETF on 3rd October 2019.
Bharat-22 Exchange Traded Fund (ETF) 
  • The 4th tranche of Bharat-22 aimed at mopping Rs 8,000 crore from investors.
  • ICICI Prudential Mutual Fund manages the Bharat-22 ETF.
  • As per the advertisement released by ICICI Prudential MF:
    • The government shall disinvest the shares of non-financial sector CPSEs and public sector banks forming part of the S&P BSE Bharat 22 index through the Further Fund offer 2 (FFO-2).
    • Shareholding of GoI post disinvestment is maintained up to 51.5% of the paid-up share capital of those CPSEs and 52% of the PSBs.
    • The investors would get a 3% discount over the issue price.
    • The offer has a base issue size of Rs 2,000 crore along with a greenshoe option to retain another Rs 6,000 crore, making the total amount to Rs 8000 crore.
  • The total sum raised through Bharat-22 ETF to the GOI amounts to Rs 35,900 crore.
  • The amount raised through Bharat-22 would help the government meet its disinvestment target of Rs 1.05 lakh crore for the current financial year.
  • Public sector enterprises like ONGC, IOC, SBI, BPCL, Coal India and Nalco are the part of Bharat-22.
  • State Bank of India (SBI). Indian Bank and Bank of Baroda are the only three public sector banks that figure in Bharat-22 index.

Question: 

Q.1 The Bharat-22 Exchange Traded Fund (ETF) is managed by whom?
a. ICICI Prudential Mutual Fund
b. Aditya Birla Sun Life Mutual Fund
c. UTI Mutual Fund
d. Axis Mutual Fund
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