Categories: Business

Subscription for the second installment of Bharat Bond ETF will start from July 14, to raise Rs 14000 crore

Photo: GOOGLE

Bharat Bond ETF's second tranche to open for subscription on July 14

new Delhi. The second installment of Bharat Bond ETF will open for subscription on 14 July. Through this, the government plans to raise up to Rs 14,000 crore. Edelweiss AMC (Asset Management Company) said that the subscription to the Bharat Bond ETF will close on 17 July. Earlier in December 2019, the successful opening series of ETFs was introduced. 12,400 crores was raised through this.

Edelweiss Asset Management Company said in May that it would bring the second installment of Bharat Bond ETF (Exchange Traded Fund) with two new series to raise Rs 14,000 crore in July. Edelweiss Mutual Fund has proposed to raise Rs 3,000 crore through two new ETF series.

It has an option to place an additional bid of Rs 11,000 crore based on market demand. Both new series will mature in April 2025 and April 2031. The Bharat Bond ETF program is a government initiative and Edelweiss AMC has been given the responsibility of designing and managing the product.

BP sold petrochemical business unit Inios for $ 5 billion

London. Oil and gas company BP has sold its global petrochemicals business to Inios for $ 5 billion. The company has taken this step as part of a plan to expand its activities towards renewable sources of energy. The company gave this information in a statement.

BP CEO Bernard Lune said the deal reflected efforts to keep the company competitive, succeeding through changes in the energy sector. According to the statement, the proceeds from this will be used to reduce the company's liabilities. The company has completed plans to raise a certain amount of money by selling some of its businesses a year ahead of schedule. The $ 5 billion deal is subject to regulatory and other approvals. The deal is expected to be completed by the end of 2020.

This post was published on June 30, 2020 8:59 am

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