Bharat-22 ETF oversubscribed

The second tranche of Bharat-22 ETF was oversubscribed, with the issue garnering subscription to the tune of Rs 12,500 cr.

Through the Bharat-22 Exchange Traded Fund (ETF), comprising shares of 22 companies, the government had targeted to mop up Rs 6,000 crore with a green-shoe option of another Rs 2,400 crore.

Subscription has come in for over 2 times of the base issue size of Rs 6,000 crore. The total bids that has come in so far is for Rs 12,500 crore and one lakh applications have come in. 

The government is likely to exercise the green-shoe option to retain the additional Rs 2,400 crore worth bids received.The government had on June 19 launched the follow-on fund offer (FFO) of Bharat-22 ETF. It closed on June 22.