Bharat 22 ETF makes stock market debut

The Bharat 22 exchange-traded fund (ETF), operated by ICICI Prudential Asset Management Company, has made a decent debut on the BSE. 

Within minutes of trading, the ETF was trading 3.86 per cent higher at Rs 37.36 per unit, said an Economic Times report. The ETF has been included in the BSE B group of securities with a scrip code 540787. 

Bharat 22 is a well-diversified ETF with basic materials accounting for 4.4 per cent of its weightage, energy 17.5 per cent, finance 20.3 per cent, industrials 22.6 per cent, FMCG 15.2 per cent and utilities 20 per cent. 

The Bharat 22 ETF, comprising scrips of 22 blue-chip companies, has attracted robust bids this month. The ETF includes frontline stocks such as SBI, IOC, Nalco, ONGC, BPCL, NTPC and Bank of Baroda. It also comprises Specified Undertaking of the Unit Trust of India (SUUTI) shares in listed companies such as ITC, Larsen & Toubro and Axis Bank. 

The government on Monday has transferred Coal India shares worth nearly Rs 507 crore to Bharat 22 ETF.

"The Ministry of Coal... on behalf of the President of India has transferred 1,92,99,613 equity shares to 'Bharat 22 ETF' at a value of Rs 5,06,51,14,597, which is 0.31 per cent of total equity share capital of the company," Coal India said in a filing to the BSE.

The filing further said, "Post transfer, holding of President of India is 4,87,56,71,716 equity shares, which is 78.546 per cent of equity share capital of the company."