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Source says govt eyes 100 bln rupees via Bharat Bond ETF next tranche

Informist, Wednesday, Oct 12, 2022

 

By Krity Ambey and Sagar Sen

 

NEW DELHI – The government is aiming to raise about 100 bln rupees through the next tranche of the Bharat Bond exchange-traded fund, a senior finance ministry official said.

 

The target is to launch the next tranche in December and the timing will be decided in the next few days, the official told Informist.

 

The last tranche of Bharat Bond ETF in December last year had raised 62 bln rupees.

 

Bharat Bond ETF is an open-ended exchange traded bond fund investing in bonds issued by constituents of the Nifty Bharat Bond Indices, consisting of ‘AAA’ rated public sector companies.

 

The ETF was initiated by the government in 2019 to cater to borrowing requirements of public sector companies by pooling investments from retail and institutional investors.

 

The Bharat Bond ETF, managed by Edelweiss Asset Management, has assets under management of 530 bln rupees.

 

Currently, Nifty Bharat Bond Index series has five indices maturing in 2023, 2025, 2030, 2031 and 2032.

 

In addition to the Bharat Bond exchange-traded fund, Edelweiss Asset Management has also launched fund of funds in the Bharat Bond series.

 

The total assets under management of fund of funds in the Bharat Bond series are around 170 bln rupees.

 

Though the government had initially thought of two tranches of the ETF per year, it has launched one tranche every year since 2019.  End

 

Edited by Akul Nishant Akhoury

 

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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Source: Cogencis

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