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According to the draft offer document on regulator’s website, ICICI Prudential Mutual Fund has received approval from SEBI for launching Bharat 22 ETF.
The open ended exchange traded fund(ETF), will be investing at least 95% of its corpus in companies constituting the underlying index, and up to 5% will be used in units of liquid or money market mutual fund schemes, money market instruments, including collateralised borrowing and lending obligations, and cash and cash equivalents.
