Government will launch fourth tranche of the Bharat Bond ETF on Friday

2 Dec 2022 , 06:33 AM

The fourth tranche of Bharat Bond ETF  will open today.

The fund’s manager, Edelweiss Mutual Fund, will launch the new fund offer of the ETF on December 2 and close subscriptions on December 8.

The money raised would be used by central public sector firms to fund capital projects (CPSEs).

The April 2033 maturity date for this fresh Bharat Bond ETF and Bharat Bond Fund of Funds (FOF) series

The government plans to raise an initial sum of Rs 1,000 crore through the introduction of this new series in the fourth tranche, with a green shoe option of Rs 4,000 crore.

The third tranche was introduced by the government in December last year with a base issue amount of Rs 1,000 crore. There was 6,200 crore rupees’ worth of bids, which was 6.2 times the amount oversubscribed.