Govt transfers Coal India shares to Bharat 22 ETF1 min read . Updated: 27 Nov 2017, 09:34 PM IST
The govt has transferred 19,299,613 Coal India shares to Bharat 22 ETF at a value of Rs507 crore, which is 0.31% of total equity share capital of the firm
New Delhi: The government has transferred Coal India shares worth nearly Rs507 crore to Bharat 22 ETF, accroding 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 ₹ 2,000 crore on the opening day. The ICICI Prudential MF-managed Bharat 22 ETF’s new fund offer (NFO) has a size of over ₹ 8,000 crore.