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  Business   Companies  28 Nov 2017  Govt transfers Rs 39 crore worth NLC shares to Bharat 22 ETF

Govt transfers Rs 39 crore worth NLC shares to Bharat 22 ETF

PTI
Published : Nov 28, 2017, 2:22 pm IST
Updated : Nov 28, 2017, 2:22 pm IST

Government had launched the Bharat-22 ETF in August and had planned to raise Rs 8,000 crore.

On November 20, the government raised Rs 14,500 crore through the sale of blue-chip shares of PSUs via its newest exchange traded fund.
 On November 20, the government raised Rs 14,500 crore through the sale of blue-chip shares of PSUs via its newest exchange traded fund.

New Delhi: The government has transferred Rs 39 crore worth shares of NLC India to Bharat 22 ETF, says a regulatory filing.

"Ministry of Coal... on behalf of the President of India has transferred 39,74,665 equity shares to 'Bharat 22 ETF' at a value of Rs 39,39,98,737 which is 0.26 per cent of total equity share capital of the company," NLC India said in a filing to BSE.

Post transfer, the share holding of the President is 128,46,03,208 shares, which is 84.04 per cent of equity shares of the company, the filing said.

On November 20, the government raised Rs 14,500 crore through the sale of blue-chip shares of PSUs via its newest exchange traded fund (ETF), Bharat-22, which received bids of about Rs 32,000 crore - a mutual fund record.

With this, the government has raised Rs 52,500 crore in the current fiscal through PSU disinvestment, including from listing of PSU insurance companies.

The government had launched the Bharat-22 ETF in August and had planned to raise Rs 8,000 crore, with an option to retain over-subscription.

The first tranche of the new fund offer opened for retail investors on November 15 and closed on November 17.

The ICICI Prudential MF-managed Bharat 22 ETF's new fund offer (NFO) has a size of over Rs 8,000 crore.  

Tags: bharat 22 etf, shares, nlc, transfer
Location: India, Delhi, New Delhi