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Bharat 22 ETF offer review

Published on Tuesday, November 14, 2017 by Dilip Davda

Bharat 22 ETF offer review

We have seen Government PSU ETFs CPSE coming to market in two tranches and getting overwhelming response in the past. Now we have yet another ETF called Bharat 22 that also includes some private sector companies that are having major investments from SUUTI. The Bharat 22 is the result of promise in Budget 2016-17 given by the Finance Minister It is the second ETF to be launched after CPSE ETF (launched in 2014).

The ETF mirrors the BSE Bharat 22 Index which comprises select companies from the CPSE universe, stakes held under the Specified Undertaking of the Unit Trust of India (Suuti) and public sector banks, from the underlying universe consisting CPSE companies, Suuti A group companies, and PSU banks.

The Bharat 22 ETF has a well diversified portfolio that includes six core sectors, including industrials, finance, utilities, energy, FMCG and basic materials, and offers good investment opportunity. This ETF is being managed by ICICI Prudential AMC, comprises select companies from the private sector having an exposure to the extent of 39 per cent while the rest are public sector firms.

The Bharat-22 exchange traded fund (ETF) that aims to raise an initial amount of Rs 8,000 crore for government, is opening for subscription on 15.11.17 and will close on 17.11.17. This ETF is a part of government's overall disinvestment programme, which has set a target of realizing Rs 72500 crore this fiscal. Bharat 22 ETF has reserved 25% each for Retail Investors (up to Rs. 2 lakh limit), QIBs, HNIs and Retirement Funds. Retail investors can make an application for a minimum amount of Rs. 5000 and in multiple of Re. 1 thereon, thereafter. For this offer, one has to apply online that provides various mode of payment of application money. There is 3% upfront cash discount to all categories on investors. Allotment will be made only in demat form and trading too will take place in demat form on BSE and NSE post allotment.

As per test reports, Bharat 22 ETF has offered superior risk adjusted returns. The historical data reveals that ETF has outperformed the S&P BSE Sensex and Nifty 50 on risk adjusted basis over 10-year horizon.The average annualised returns delivered by Bharat 22 ETF across all 3-year holding periods since March 2006 stood at 14.86 percent, higher than the S&P BSE Sensex’s 10.96 percent and Nifty 50’s 11.03 percent, a similar outperformance was also observed in the 5-year holding period. An investment of Rs 10,000 in Bharat 22 ETF on March 17, 2006 would have grown to Rs 44,475, compared to S&P BSE Sensex’s Rs 34,084 and Nifty 50’s Rs 34,879. The Bharat 22 ETF has also delivered a higher dividend yield of 2 percent during the financial year of 2016 – 17, compared to 1.3 percent of the S&P BSE Sensex. The ETF has also recorded lower price-to-earnings ratio for majority of time compared to the S&P BSE Sensex, hence delivering better returns with lower volatility in earnings.

The Bharat 22 ETF is expected to invest a majority of its capital in equities of listed companies thus from the taxation point of view, it would be considered as an equity investment. ETF investments are not subject to wealth tax however, profits from the fund are subject to short term capital gains and long term capital gains. In case profits are obtained by an investor through sale of the Bharat 22 ETF units within 1 year from the date of unit allocation, short term capital gains (STCG) rules are applicable. If ETF units have been held for over a year from the date of allocation before being traded for a profit, long term capital gains (LTCG) taxation rule is applicable. At present, the applicable tax rate in case of STCG is 15% of profits earned, while the LTCG rate in case of equity investments is currently nil.

Bharat 22 ETF portfolio includes following scrip with their weightings and sector weightage.

Anchor investors have submitted bids for Rs. 12000 crore on 14.11.17 and thus it is oversubscribed by 6 times against offer size of Rs 2000 showing interest of institutional investors.

Conclusion: Investors looking for safe medium to long term investment for better returns may consider this ETF opportunity.

BHARAT 22 ETF Listing Information

  • Listing Date: Tuesday, November 28, 2017
  • Name of the Mutual Fund: ICICI Prudential Mutual Fund
  • Name of the Investment Manager: ICICI Prudential Asset Management Company Limited
  • No. of units: 4030904767 Units
  • Scrip Code: 540787
  • Group: B
  • Market Lot: 1
  • Face value: Rs.10.00 per unit
  • Issue Price: Rs.35.97 per unit
  • Date of Allotment: 24/11/2017
  • Detail Name: BHARAT 22 ETF
  • ISIN No.: INF109KB15Y7

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About Author

DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets are subject to unpredictable market related risks. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.

(SEBI registered Research Analyst-Mumbai).


About Dilip Davda

Dilip Davda, a freelance journalist

Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.

Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.

Email: dilip_davda@rediffmail.com


User Comment

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102.1. TG  Dec 8, 2017 1:04:29 PM
how can i see this etf in my demat account ? amount is deducted but i dont see anywhere in hdfc securities.plz help
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101. TG  Dec 8, 2017 1:02:54 PM Reply
how can i check this ETF in my demat account? i applied through hdfc securities. amount is deducted but i dont see anywhere on hdfc portal this etf. please help
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100. Vikas Goyal  Nov 28, 2017 10:08:49 PM Reply
I have applied RS 100000 chq in bharat 22 which got debited but not credited ETF my demat account . Please help
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99. Mayur  Nov 28, 2017 9:27:50 PM Reply
I have applied RS 100000 chq debit but not credited ETF my demat account
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98. Vineet Garg  Nov 28, 2017 12:49:13 PM Reply
"Bharat 22 ETF" is not displaying in MoneyControl site. How can i add in my portfolio ?
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98.1. d  Nov 28, 2017 3:22:45 PM
ISIN code BHARATIWIN
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98.2. VINEET GARG  Nov 28, 2017 5:19:03 PM
Symbol: BHARATIWIN
ISIN: INF109KB15Y7

But non of the code is available while searching.
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97. Ipokinggg  Nov 28, 2017 8:13:03 PM Reply
This is not getting searched with Bharatiwin /ICICIPRUAMC/neither 6 numerical digit symbol on moneycontrol.com

Ao do not make comments if not sure or experienced
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97.1. Kanch  Nov 28, 2017 8:54:12 PM
This is the same doubt I have. I have searched it with the same code but I am unable to add it in my portfolio now. Were you able to find the solution to it?
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97.2. Vineet Garg  Nov 28, 2017 9:22:22 PM
Use the following URL for Bharat 22 ETF

http://www.moneycontrol.com/india/stockpricequote/miscellaneous/iciciprudentialmutualfund/ICI15
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96. Prabahar P M  Nov 28, 2017 7:04:33 PM Reply
When will we get the balance amount? (I got 5560 units @ 35.97. Which means allocated units for 1,99,993.20. The balance on 2,00,000 is 6.80)
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95. Prabahar P M  Nov 28, 2017 7:02:19 PM Reply
I got 5560 units @ Rs. 35.97, which is Rs. 1,99,993.20. When will we get the balance Rs. 6.80?
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94. AA  Nov 28, 2017 2:38:05 PM Reply
What is the view on PNB Housing OFS? Should we apply any short term / long term targets? Thank you.
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93. Prit  Nov 28, 2017 9:02:09 AM Reply
Where i see bharat 22 listing
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92. Ratan Gupta  Nov 28, 2017 7:13:13 AM Reply
Units allocated as per sms and mail from ICICI AMC.. but not reflecting still in Demat... can see it in CAMS though... if they are listing today, then it should be there in Demat..

confusion galore
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92.2. AnkurGoel  Nov 28, 2017 8:35:33 AM
IPO Mentor IPO Mentor (800+ Posts, 600+ Likes)
Call your broker immediately. He will solve the problem. The allotted amount will be lying in his pool account. He will transfer the amount from his pool account to your trading account.
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92.3. GGD  Nov 28, 2017 8:41:52 AM
Crdited In CDSL dmat yesterday. As per cnbc listed @37.34 today
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91. Mayank Dave  Nov 27, 2017 3:32:19 PM Reply
Purchase price is 35.97 in allotted units while it was rs 10 with 3% discount..may i know why such...i''m new to this..any body explained..
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91.2. Hardik Shahenshah  Nov 27, 2017 6:47:30 PM
Don''t Worry
Its showing its face value
From Listing onward it will show its closing price

Units are credited today in demat so tomorrow can be listing

Today its indicative closing price was 37.64
So 1.67 (4.64%) profit per unit

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91.3. Ankit  Nov 28, 2017 7:14:25 AM
Ya. u r complete new to this. any etf or stock alloted through ipo,show its face value in the demat account until it get listed. after listing, that day closing price will reflect in your demat account after a while.
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90. ANANDA PRAJAPATI  Nov 27, 2017 9:59:46 PM Reply
TODAY NAV 37.64

LETS SEE FOR TOMORROW LISTING PRICE
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90.1. MOHAN  Nov 28, 2017 6:54:35 AM
How to chk and where to chk.. please tell us ji..
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89. bishal kumar  Nov 27, 2017 6:07:20 PM Reply
Bharat 22 etf is not listing tomorrow ie Tuesday 28/11/2017
Units have not been credited in respective demats till not
Icici Mf customer executive told it will take 5 business / working days to list from 24/11/2017 Saturday Sunday not included
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89.1. anand  Nov 27, 2017 10:36:21 PM
Tuesday ko hi listing h. aaj CNBC news channel me v yahi batya h ki listing Tuesday ko h
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88. Naman  Nov 27, 2017 10:13:16 PM Reply
Got 16680 units @ 35.97
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87. Gunjan  Nov 27, 2017 7:42:21 PM Reply
What is expected listing price of ipo
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87.1. ANANDA PRAJAPATI  Nov 27, 2017 9:58:15 PM
today nav price 37.64rs
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86. BADAYA  Nov 27, 2017 7:35:37 PM Reply
LISTING TOMMOROW

https://www.icicipruamc.com/
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86.1. Viral  Nov 27, 2017 9:29:55 PM
R u sure
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85. Viral  Nov 27, 2017 9:28:21 PM Reply
Listing price expected....?
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84. astuter  Nov 27, 2017 6:22:57 PM Reply
Got Message from CDSL: Credit in a/c ******** through IPO/FPO for 1390-ICICI BHARAT 22 ETF on 27 Nov.
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83. R  Nov 27, 2017 6:17:43 PM Reply
Credited in demat account
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82. rahulgupta  Nov 27, 2017 4:06:11 PM Reply
Bharat 22 ETF GMP
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82.1. Abhishek  Nov 27, 2017 6:09:02 PM
There is no GMP on this, it is prelisted thing, just accumulated and made a index.
Currently trading at 3764
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81. Sayyed  Nov 27, 2017 5:14:50 PM Reply
Bharat 22 listing kab hai
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80. Ank B  Nov 27, 2017 5:10:32 PM Reply
BHARAT ETF 22 GMP..
20000. KI APPLICATION PER KITNA PROFIT MILENGA
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79. Black Mamba  Nov 27, 2017 4:17:11 PM Reply
What is the expected price movement on-
1) Listing day 1 and 2
2) Short tem - 3 to 6 months
3) Mid term 1-2 years
4) Long term - 3 years and above
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78. Mr. Reliable  Nov 25, 2017 4:30:19 PM Reply
listing on TUESDAY i.e. 28.11.2017................................last closing index as per unit rate is Rs. 37.48 and allotment get Rs. 35.97. So diff. Rs. 1.51 is profit. but due to selling pressure investors will get Rs. 1.00 profit only.
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78.2. Naman  Nov 26, 2017 10:53:34 PM
Hey how do u find that the last closing price was 37.48? Please tell
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78.3. Santosh Gugle  Nov 27, 2017 3:55:12 PM
Check on BSE for Bharat 22 Index
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77. Amit kumar  Nov 27, 2017 3:08:55 PM Reply
Please send link check allotment bharat 22 etf
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77.2. SANTOSH GUGLE  Nov 27, 2017 3:52:59 PM
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77.3. Santosh Gugle  Nov 27, 2017 3:53:28 PM
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76. Bidesh Mondal  Nov 27, 2017 12:35:38 PM Reply
When Bharat 22 will be allowed?
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76.1. Technical Bull  Nov 27, 2017 3:26:03 PM
Already alloted. plz check ur status here:

https://www.icicipruamc.com/InvOnline/APP/ASPX/frmBharatETF.aspx
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75. Amit kumar  Nov 27, 2017 3:07:12 PM Reply
Please send link check allotment bharat 22 etf
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74. seema jain  Nov 26, 2017 7:15:17 PM Reply
what will be the nav rate on listing date and what is listing date .i have got 5560 units OF BHARAT 22 ETF
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74.1. SBT  Nov 27, 2017 2:23:26 PM
IN deC IT WILL QUOTE AT RS 30/-6T
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73. SBT  Nov 27, 2017 2:21:50 PM Reply
in Dec it will be quote for Rs 30
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72. Monu  Nov 27, 2017 2:13:17 PM Reply
Bharat 22 etf ki listing kb h
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71. Ankit Dashottar  Nov 27, 2017 1:59:41 PM Reply
check the allotment status at:

https://www.icicipruamc.com/InvOnline/(X(1)S(dmr0kaxdinrucqc0w3p1tplv))/APP/ASPX/frmBharatETF.aspx?AspxAutoDetectCookieSupport=1
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70. Venkatesh  Nov 27, 2017 1:55:38 PM Reply
Just now got allotment email , 278 units allotted for rs.10000
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69. ANKBHA  Nov 27, 2017 12:07:36 PM Reply
in my account debited 10000 and suscessfully submited..
but now i will check my allotment showing bellow error

NO RECORD FOR THE GIVEN INPUT
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68. SARITA KHANDELWAL  Nov 26, 2017 4:34:53 PM Reply
HOW WILL ALLOTMENT PAN BFGPK2818J UNIT
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67. Tarun  Nov 26, 2017 10:07:30 PM Reply
I had applied two times means fill two application for bharat22etf amt 42000 and 48000...will allot units of both application
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66. Kanhaiya lal  Nov 26, 2017 7:58:07 PM Reply
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65. Prakash Mirani  Nov 25, 2017 2:45:01 PM Reply
http://www.camsonline.com/InvestorServices/COL_ISAllotmentAdviceRequest_ICICI.aspx

Use the above link to receive Bharat 22 allotment advice on registered mail id using PAN & Demat No.
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65.1. a  Nov 26, 2017 6:14:48 PM
Prakash Sir,
Link Is Not Working.


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63. ABCD  Nov 26, 2017 5:09:06 PM Reply
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62. SARITA KHANDELWAL  Nov 26, 2017 4:39:29 PM Reply
HOW UNIT BHARAT 22 ETF PAN NO. BFGPK2818J
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61. patience & passion  Nov 18, 2017 7:10:53 AM Reply
Price of per unit to be fix at between 37 to 37.50 .
After discount it will be at 35.90 to 36.40 range .
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61.1. patience & passion  Nov 26, 2017 2:41:59 PM
Price fix @ 35.97
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60. Vinod Shrivastav  Nov 26, 2017 2:34:11 PM Reply
Pls.give me link bharat etf 22 allotment
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59. SUNIL MEHTA  Nov 26, 2017 4:51:58 AM Reply
Greetings, we are pleased to inform that you have been allotted 834 units under BHARAT 22 ETF for allotment amount of Rs.29998.98 at price of Rs.35.97 per unit (inclusive of 3% discount). The said units will be credited to your Demat Account No. XXXXXXXXXXXX8870 within 2 business days from allotment date, subject to necessary verifications. Applicable refund will be initiated to your bank account registered with DP. The allotment advice will be sent to you separately.
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59.1. Jssamar  Nov 26, 2017 8:29:22 AM
Bharat 22 etf Pan no BEFPS4250G how much I alloted
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59.2. Sarath  Nov 26, 2017 11:07:48 AM
What abt 3%discount
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58. S k bhargava  Nov 26, 2017 10:50:18 AM Reply
Allotment received I have allowed 5560 unit @ 35.97 for 2 lac app.


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57. S k bhargava  Nov 26, 2017 10:48:22 AM Reply
Allotment received I have allowed 5560 unit @ 35.97 for 2 lac app.


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56. Rahul  Nov 25, 2017 11:47:16 PM Reply
Allotment will be done in Monday.....so please don''t hectic yro ...... Etf sub ko milega and return bhe sure.....or haaa msg ayega allotment hote he apke registered mobile number per...yro
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56.1. ANANDA PRAJAPATI  Nov 26, 2017 10:03:16 AM
allotment friday afternoon me ho chuka h, msg aur mail monday ko aayega. retail get 100% allotment.
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55. Prakash Mirani  Nov 25, 2017 2:56:16 PM Reply
http://www.camsonline.com/InvestorServices/COL_ISAllotmentAdviceRequest_ICICI.aspx

Use the above link to receive Bharat 22 allotment advice on registered mail id using PAN & Demat No.
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55.1. Jssamar  Nov 26, 2017 8:35:53 AM
How much bharat 22 in PAN NO BEFPS4250G
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55.2. Amit  Nov 26, 2017 9:43:39 AM
It says Access Dinied
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54. Om Prakash  Nov 26, 2017 8:35:47 AM Reply
I don''t get any confirmation from ICICI but cams app show allotment confirm to me.
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53. Ritz  Nov 25, 2017 2:48:55 PM Reply
Please any body share the link for check the status. As it is not available in my cams fund also not reversed.
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53.2. ANANDA PRAJAPATI  Nov 25, 2017 6:02:12 PM
http://www.camsonline.com/InvestorServices/COL_ISAllotmentAdviceRequest_ICICI.aspx

Use the above link to receive Bharat 22 allotment advice on registered mail id using PAN & Demat No.
avatar
53.3. Jay  Nov 25, 2017 7:26:12 PM
It is available in CAMS Online app. allotment price is 35.97
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