India's first corporate bond exchange-traded fund, which garnered Rs 12,000 crore, listed on the bourses today.
Bharat Bond ETF invests only in AAA-rated bonds of public sector companies for two fixed maturity period of three and 10 years. The units of the three-year and 10-year ETFs were trading at Rs 1,000.85 and Rs 1,001.45, respectively, on the National Stock Exchange as of 1 p.m.
The issue, managed by Edelweiss Mutual Fund, opened for investors on Dec. 12-20. It was subscribed 1.7 times its base size of Rs 7,000 crore. The three-year category received applications for Rs 6,982 crore and the 10-year category received applications for Rs 5,413 crore. Bharat Bond Funds of Funds was also launched for investors who don't have demat accounts.
The yield of Nifty Bharat Bond Index-April 2023 is 6.69 percent and the Nifty Bharat Bond Index-April 2030 is 7.58 percent, as on Dec. 5., according to exchange data.
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