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Bharat Bond ETF’s 2nd tranche oversubscribed 3.7 times

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Mumbai, July 20 (IANS) Edelweiss Asset Management Ltd on Monday said that the second tranche of the Bharat Bond Exchange Traded Fund (ETF) has been oversubscribed more than 3.7 times.

“The Bharat Bond NFO Tranche II has seen resounding success, receiving applications amounting to Rs 10,992 crore. The initial NFO issue size of Rs 15,000 crore (base issue size of Rs 3,000 crore with a green shoe option of Rs 12,000 crore) was oversubscribed by over 3.7 times,” an Edelweiss statement said.

The 2025 maturity date category received applications for Rs 4,531 crore, an oversubscription of 2.3 times and the 2031 Maturity category received applications for Rs 6,461 crore, an oversubscription of 6.5 times.

With around 40,000 applications received and considering Covid-19 restrictions on accepting physical applications, Edelweiss Mutual Fund’s Bharat Bond NFO witnessed wide retail participation with strong support from digital channels, according to the statement.

Tuhin Kanta Pandey, Secretary, DIPAM, Ministry of Finance said: “The overwhelming response and over-subscription of the Bharat Bond ETF tranche II issue shows that the product is well accepted and there is enough demand from investors for CPSE bonds. The wide participation from investors during the current environment is very encouraging.”

He added that this has helped participating CPSEs in raising long term resources that will aid their capex plans in the current financial year.

Radhika Gupta, MD & CEO, Edelweiss Mutual Fund said: “This gives us confidence to keep building BHARAT Bond ETF programme and launch more ETFs in coming time with various maturities across the yield curve. In just six months, Bharat Bond ETF programme now manages a significant amount across four ETFs launched in the last six months.”



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