The fourth installment of the Bharat-22 ETF could hit the market in October. ICICI Pru MF submits design papers to Sebi

New Delhi, September 19 () The government is expected to launch the fourth installment of the Bharat-22 ETF next month, with the ICICI Prudential Mutual Fund submitting drafts to the market regulatory authority Sebi.

The decision was made after the government received a robust response to the product's previous sale.

The government has so far raised Rs 26,400 crore through the Bharat-22 Exchange Traded Fund - Rs 14,500 crore were raised in November 2017, another Rs 8,400 crore was used up in June 2018 and Rs 3,500 crore in February this year.

The ICICI Prudential Asset Management Company filed a Supplement To Scheme Information Document on the Bharat-22 ETF FFO 2 on Wednesday at Sebi.

The fourth installment of the Bharat-22 ETF could hit the market next month, said an official insider tip of the development.

The proceeds of the ETF will help the government reach its divestment target of Rs.15 billion for the current financial year.

Central Public Sector Enterprises (CPSEs), which are part of the Bharat-22 ETF, include ONGC, IOC, SBI, BPCL, Coal India and Nalco.

Other components include Bharat Electronics, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, PGCIL, NLC India, Axis Bank, ITC, and L u0026 T. Only three public-sector banks - SBI, Indian Bank and Bank of Baroda - are represented in the Bharat-22 Index. SP ANU ANU