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Bharat Bond ETF mops up Rs 12,400 crore on debut offer
TIWN
Bharat Bond ETF mops up Rs 12,400 crore on debut offer
PHOTO : TIWN

New Delhi, Dec 25 (TIWN) Bharat Bond ETF, India's first corporate bond ETF, has fetched Rs 12,400 crore from its maiden offer.

It opened for subscription on December 12 and closed on December 20.  The funds raised would be utilised for capex of PSUs. The base size of the issue was ₹7,000 crore.  "BHARAT Bond ETF received an enthusiastic response from all categories of investors. Both tenors of ETF were oversubscribed @ ₹12,400 cr. Govt. has decided to retain full amount. Participation by about 55,000 retails investors was the highlight of this issue," DIPAM Secretary Tuhin Kanta Pandey said in a tweet on Tuesday.  The exchange-traded fund (ETF) invests only in AAA-rated bonds of public sector companies and will have target maturity structures.

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