Edelweiss Asset Management Limited (EAML) has announced that its BHARAT Bond ETF – April 2032 NFO Series III has been oversubscribed. Edelweiss Mutual Fund – BHARAT Bond ETF – April 2032 Series III NFO has been a resounding success and has received claims amounting to over Rs 6,350cr.
The original NFO issue size with a base issue size of Rs1,000cr with an open green shoe option was oversubscribed more than 6.3 times.
Tuhin Kanta Pandey, DIPAM Secretary, Ministry of Finance, said: âThe massive response and oversubscription of the Edelweiss MF – BHARAT Bond ETF – April 2032 Series III issue shows that the product is well accepted and that investor demand for CPSE is sufficient. Obligations. We are happy to see that the total body of BHARAT bond ETFs now exceeds Rs 43,500. â
Radhika Gupta, MD & CEO, Edelweiss Mutual Fund said: âWe are delighted to see the overwhelming response that Edelweiss MF – BHARAT Bond ETF – April 2032 Series III (with a deadline of April 2032) has received with collections exceeding Rs 6,350cr. The issue was oversubscribed more than 6.3 times the size of the base issue of Rs1,000cr. The total AUM of this category reached around Rs. 55,000 Cr and Edelweiss AMC is the leader in this field with over 80% market share. This gives us confidence to continue launching target maturity passive debt funds in the coming time with various maturities across the yield curve.
The Edelweiss MF – BHARAT Bond ETF is an exchange traded fund that invests in the debt of public sector companies. The ETF currently only invests in âAAAâ rated bonds of public sector companies. The ETF will track the Nifty BHARAT Bond Index in April 2032. The BHARAT Bond Fund of Funds (FOF) with a similar maturity has also been launched for investors who do not have demat accounts.
Ultimately, the Edelweiss MF BHARAT Bond ETF program will continue to grow and provide a safe and secure investment avenue for investors across maturities and provide a simple and alternative method to CPSEs to raise funds. This new series BHARAT Bond ETF and BHARAT Bond Fund of Fund (FOF) will expire on April 15, 2032.
There are now 5 BHARAT bond ETFs maturing across the entire yield curve – 2023, 2025, 2030, 2031 and 2032.