Govt transfers Coal India shares to Bharat 22 ETF

Govt transfers Coal India shares to Bharat 22 ETF
29/11/2017 , by , in ALLIED

The government has transferred Coal India shares worth nearly Rs. 507 crore to Bharat 22 ETF, according to a regulatory filing on Monday.

“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 Rs5,06,51,14,597, which is 0.31% of total equity share capital of the company,” Coal India Ltd said in a filing to BSE. “Post transfer, holding of President of India is 4,875,671,716 equity shares, which is 78.546% of equity share capital of the company,” the filing said.

The Bharat 22 Exchange Traded Fund (ETF), comprising scrips of 22 blue-chip companies, this month attracted robust bids, with the portion reserved for anchor investors getting subscribed six times to the tune of Rs12,000 crore on the opening day. The ICICI Prudential MF-managed Bharat 22 ETF’s new fund offer (NFO) has a size of over Rs 8,000 crore.

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