The Additional Offering Period (AOP) of ICICI Prudential Mutual Fund managed BHARAT 22 ETF has just been announced. This AOP is a part of the Government of India’s overall disinvestment program announced earlier by the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, using the ETF route.
ICICI Prudential AMC proposes to raise upto Rs. 3,500 crore in this AOP plus an additional amount as notified by the AMC, as per instructions of Government of India to be raised from AOP. “The success of Bharat 22 ETF FFO managed by ICICI Prudential AMC highlighted investor confidence in the India growth story and the growing acceptance of ETF as an investment vehicle.
With a view to encourage further participation in BHARAT 22 ETF, we are happy to launch a one day additional offering period with an attractive discount”, said Mr. Atanu Chakraborty, Secretary DIPAM, Ministry of Finance.
“We are pleased to announce the Additional Offering Period of ICICI Prudential Mutual Fund managed BHARAT 22 ETF. The AOP with the 5% discount offered is an interesting opportunity to partake in India growth story by way of diversified companies spread across several sectors which are available at attractive
valuation”, said Mr. Nimesh Shah, MD & CEO, ICICI Prudential AMC.
The dividend yield of S&P BSE Bharat 22 Index which is the underlying of the ICICI Prudential Mutual Fund managed BHARAT 22 ETF is approximately 2.55% as further adding to the overall merit of investing in this ETF. In addition, ICICI Prudential Mutual Fund managed BHARAT 22 ETF has an expense ratio of less
than 1 bps.
The AOP is open for all categories of investors specified above and additionally discount of 5% on Government disinvested shares* is being offered to all categories of investors.
