The Government has launched the Bharat-22 Exchange Traded Fund (ETF) to benefit long term and retail investors by providing an opportunity of participation in equity stocks of the Government run companies and earn stable returns. The New Fund Offer (NFO) of BHARAT 22 Exchange Traded Fund (ETF) (scheme) was launched from 14th November, 2017 to 17th November, 2017 as a part of Government of India (GOI) disinvestment programme. GOI has offered 3% discount to all investors of the reference market price during New Fund Offer (NFO).

The objective of BHARAT 22 ETF is to invest in constituents (22 companies) of S & P BSE Bharat 22 Index and endeavour to provide returns before expenses, which closely correspond to the total returns of S & P BSE Bharat 22 Index, subject to the usual elements of market risk.

BHARAT 22 ETF comprising 22 stocks of listed Central Public Sector Enterprises (CPSEs), Strategic Holdings of Specified Undertaking of Unit Trust of India (SUUTI) and Public Sector Banks (PSBs) namely:

Sr. No	Company name
1	Axis Bank Ltd
2	Bank of Baroda (BOB)
3	Bharat Electronics Ltd. (BEL)
4	Bharat Petroleum Corporation Ltd. (BPCL)
5	Coal India Ltd. (CIL)
6	Engineers India Ltd. (EIL)
7	GAIL (India) Ltd.
8	ITC Ltd.
9	Indian Bank
10	Indian Oil Corporation Ltd. (IOCL)
11	Larsen & Toubro Ltd. (L & T)
12	National Building Construction Corporation (NBCC) Ltd.
13	National Hydro Power Corporation (NHPC)
14	Neyveli Lignite Company (NLC) Ltd.
15	National Thermal Power Corporation (NTPC)
16	National Aluminium Company Ltd. (NALCO)
17	Oil & Natural Gas Corporation (ONGC)
18	Power Finance Corporation Ltd. (PFCL)
19	Power Grid Corporation of India Ltd. (PGCIL)
20	Rural Electrification Corporation Ltd. (RECL)
21	Satluj Jal Vidyut Nigam Ltd. (SJVNL)
22	State Bank of India (SBI)

Government of India raised an amount of ₹ 14,500 crore through BHARAT 22 ETF.

This was stated by Shri Pon. Radhakrishnan, Minister of State for Finance in written reply to a question in Lok Sabha today.

Disinvestment via exchange traded fund expands retail access to government owned company equities, with discounted NFO participation. The Government launched the BHARAT 22 Exchange Traded Fund under its disinvestment programme, opening a New Fund Offer from 14 to 17 November 2017 with a three percent discount to investors. The ETF aims to invest in the twenty two constituents of the S&P BSE Bharat 22 Index to track index returns before expenses, subject to market risk, and comprises listed Central Public Sector Enterprises, SUUTI strategic holdings and Public Sector Banks. The Government reported raising proceeds of the offering through the ETF.