FundfundMutualFundfundsBharat 22 Exchange Traded(ETF), comprising 22 companies, made a modest debut on the bourses on Tuesday, surging nearly four per cent over the issue price of Rs 35.97.The ETF listed at Rs 36.30 per unit on BSE , up 0.92 per cent over the issue price of Rs 35.97. In the intra-day trade, it had touched a high of Rs 37.38 and a low of Rs 36.30. It closed the session at Rs 37.33, up 3.78 per cent.On National Stock Exchange ( NSE ), thesettled 3.7 per cent higher at Rs 37.30. It had opened at Rs 36.11 and hit a high of Rs 37.40 in the intra-day trade. Bharat 22 ETF , managed by ICICI Prudential, is a unique blend of shares of key CPSEs, Public Sector Banks (PSBs) and also the government-owned shares in bluechip private companies like Larsen & Toubro (L&T), Axis Bank and ITC.The government raised Rs 14,500 crore through Bharat 22 ETF, which opened for subscription for retail investors from November 15-17.It had an initial issue size of Rs 8,000 crore.Bharat 22 ETF saw bids of nearly Rs 32,000 crore coming in, with foreign portfolio investors bidding for one-third of the money.

Source: Economic Times November 29, 2017 04:41 UTC