The government on June 4 announced the creation of Bharat-22 ETF. It may have a diversified portfolio of 22 companies consisting of Central Public Sector Enterprise (CPSE), Public Sector Banks (PSBs) and will also have some strategic holding in the Specified Undertaking of the Unit Trust of India (SUUTI), Finance Minister Arun Jaitley said. The move reflects the government's desire to speed up its disinvestment plan to mobilize Rs 72,500cr in FY 18. The ETF will have a portfolio of six sectors--basic materials, energy, finance, FMCG, as well as industrial and utilities, Jaitley said. There will be a sectoral capping of 20 percent and a single company stock cap of 15 percent. ICICI Prudential AMC will be the ETF Manager and Asia Index Private Ltd (JV BSE and S& P Global) will be the Index Provider, disinvestment secretary said. Being a market sensitive information, the government, however, did not formally announce the date of the launch of ETF.