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Bharat Bond ETF oversubscribed more than 3 times; second tranche garners Rs 10,000 crore

harat Bond ETF with a fixed maturity of three years and 10 years, had fetched about Rs 12,400 crore from its debut offer in December 2019

twitter-logoBusinessToday.In | July 18, 2020 | Updated 09:23 IST
Bharat Bond ETF oversubscribed more than 3 times; second tranche garners Rs 10,000 crore
Bharat Bond ETF oversubscribed

The government said that Bharat Bond exchange traded fund (ETF) has received an 'outstanding response' and has been oversubscribed by more than three times. Bharat Bond ETF collected round Rs 10,000 crore. The base issue size was Rs 3,000 crore and a green-shoe option of Rs 11,000 crore takes the total size to Rs 14,000 crore.

"The second series of Bharat Bond ETF received an outstanding response, oversubscribed more than 3 times, estimated collection around Rs 10,000 crores with wide participation across categories," Secretary DIPAM (Department of Investment and Public Asset Management) said in a tweet.

The official said that the final collection numbers are being tallied and will be released by Monday.    

Bharat Bond ETF with a fixed maturity of three years and 10 years, had fetched about Rs 12,400 crore from its debut offer in December 2019. The ETF currently invests only in 'AAA' rated bonds of public sector companies.

The government launched the second tranche of Bharat Bond ETF on July 14. The subscription for the ETF was closed on July 17. The ETF is an attempt by the government to meet its divestment target for this fiscal year. Edelweiss Asset Management is overseeing the proceedings of the ETF.

(With PTI inputs)

Also read: Bharat Bond ETFs: Should you invest?

Also read: Bharat Bond ETF: Second tranche opens today, govt eyes Rs 14,000 crore

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