Include Bharat-22 ETF in your satellite portfolio

Bharat 22 ETF Opens Today Should you invest

The Bharat-22 exchange traded fund (ETF), which is expected to fetch around Rs 8,000 crore for the government, is opening for anchor investors today, a day before public investors will get access to the fund till November 17.

The NFO received subscriptions from across the board including mutual funds, foreign portfolio investors, insurance and retirement funds.

ICICI Prudential launched Bharat 22 ETF, which will invest primarily in PSU companies and private companies in which government wants to divest stake. Each category of the investors will be sanctioned with 25% of the total units for subscription. In case of spill-over, additional portion will be allocated giving preference to retail and retirement funds. The new ETF has 22 companies spread across six sectors compared to just 10 stocks spread across five sectors in the CPSE ETF.

Congresswoman warns of sexual harassment on Capitol Hill
Gregg Harper (R-MS) noted that "sexual harassment is a serious problem in our society and Congress is not immune from this issue". House Minority Leader Nancy Pelosi has also said that Capitol Hill workplace sexual harassment policies "need to be changed".

The ETF will help the government meet its ambitious Rs72,500 crore disinvestment target for the current fiscal. We take a look at the fund which is part of the government's divestment programme. An discount of 3 per cent is being offered to all categories of investors- anchor investors, retail individual investors, retirement funds, QIBs and non-institutional investors. NHPC, NLC India, NTPC, Oil & Natural Gas Corp, Power Finance Corp, Power Grid Corp of India, Rural Electrification Corp and SJVN are the other constituents of the fund.

Only three public sector banks - SBI, Indian Bank and Bank of Baroda - figure in the Bharat-22 index.

Speaking at the event, Senior Government official Anuradha Thakur, Joint Secretary, Department of Investment and Public Asset Management (DIPAM) observed, "BHARAT 22 aims at bring broad-based ownership pattern to the public sector enterprises (PSEs)". On Monday, the S&P BSE Bharat-22 Index closed at 3,751.81, down 1.1 per cent. "The ETF is well diversified with investments across six core sectors and offers good investment opportunity and expect an overwhelming response to this NFO", she added.

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