Retail investors stand to make Rs 7,100 in Bharat 22 ETF

Investors in the Bharat 22ETF who applied for units upto Rs 2 lakhs in the retail category, stand to make a profit of Rs 7,100. Investors were allotted 5,560 units at a price of Rs 35.97, after including a discount of 3 per cent offered by the government. As against this, at 10.30 am the units were trading at Rs 37.25 giving investors a profit of Rs 1.28 per unit. Units have been allotted to investors in demat form only.

BHARAT 22 ETF, managed by ICICI Prudential Mutual Fund tracks the S&P BSE Bharat 22 Index that comprises total of 22 stocks from the universe of Central Public Sector Enterprises (CPSEs), Public Sector Undertakings (PSUs) and companies with stakes held under SUUTI (Specified Undertaking of the Unit Trust of India).

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The fund house raised Rs 14,500 crore through the Bharat 22 ETF. The ETF will help the government meet its ambitious Rs 72,500 crore disinvestment target for the ongoing financial year.