The third tranche of Bharat-22 Exchange Traded Fund (ETF), a passively managed mutual fund scheme, has opened on Thursday. Applications for the single-day Rs 3,500-crore additional offering of Bharat-22 ETF from institutional and retail investors will be available till 8pm.
If you have plans of investing in Bharat-22 ETF, do not miss these details of the fund:
1. Bharat-22 ETF was introduced in Union budget 2017. The government has so far raised Rs 22,900 crore through the fund. While Rs 14,500 crore was raised in November 2017, another Rs 8,400 crore was raised in June 2018, reported the Economic Times.
2. The fund is managed by ICICI Prudential Mutual Fund. The units are being offered through the Additional Offering Period (AOP). Investors may invest through cheques or demand drafts, RTGS and or by NEFT till 8pm on Thursday. However, ASBA facility is not available.
3. It is to be noted that allotment will be made on a proportionate basis and not on a first-come first-served basis. The units will be allotted within five working days for all successful applications from the closure of the AOP. The units will be listed on the BSE and the NSE within five working days from the allotment date.
4. The Bharat-22 Index primarily comprises the shares of government-owned companies.
5. The minimum investment amount is Rs 5,000 and there is no entry or exit load in the scheme.
6. There will be a discount of five per cent for all investor categories during AOP and will be available to investors only if they subscribe under this AOP, and not if they purchase the existing units of the scheme already listed on the exchanges.
7. How to apply for Bharat-22 ETF: Individuals may apply directly with the ICICI Prudential Mutual Fund either offline or online. One can invest through CAMS and platforms of NSE or BSE stock exchanges.
