 "Bharat Bond ETF oversubscribed 6 times against base size of Rs 1,000 crore")
The Finance Ministry on Thursday said the third tranche of Bharat Bond ETF was oversubscribed 6.2 times against the base issue size of Rs 1,000 crore.
Bharat Bond ETF is an exchange-traded fund that invests in the debt of public sector companies. The ETF currently invests only in 'AAA' rated bonds of public sector companies.
"Overwhelming response seen in BHARAT Bond ETF 2032 NFO. Total collection over Rs 6,200 Crs. Issue oversubscribed more than 6.2x against the base issue size of Rs 1,000 crores," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet.
The funds raised through the debt ETF helps in smoothening borrowing plans of the participating CPSEs or public sector banks. It also helps them in meeting their capital expenditure needs.
The second tranche of the Bharat Bond ETF, which was launched in July 2020, was oversubscribed more than 3 times, collecting about Rs 11,000 crore. It had fetched about Rs 12,400 crore in its debut offer in December 2019.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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