Govt transfers Coal India shares to Bharat 22 ETF

November 27
23:16 2017

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

“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 BSE.

“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,” 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 Rs 12,000 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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