New Delhi, Dec 21 (SocialNews.XYZ) The Bharat Bond ETF has closed for subscription on Friday with over-subscription of 1.7 times, accumulating Rs 12,000 crore against its base size of Rs 7,000 crore.
"India's first corporate Bond ETF, Bharat Bond ETF, has received a great response from investors across different segments. The issue was over-subscribed approximately 1.7 times, collecting about Rs 12,000 crore. Information is subject to further update," DIPAM Secretary Tuhin Kanta Pandey said in a tweet.
The exchange-traded fund will invest only in AAA-rated bonds of public sector companies and will have target maturity structures. The ETF with a 3-year maturity will follow the Nifty Bharat Bond Index-April 2023 and the one with a 10-year maturity will follow the Nifty Bharat Bond Index-April 2030.
The yield as on December 5 , 2019, of Nifty Bharat Bond Index-April 2023 is 6.69 per cent and the Nifty Bharat Bond Index-April 2030 is 7.58 per cent.
The government is trying to meet Rs 1.05 lakh crore disinvestment target.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz