Diabytes
CPSE ETF News
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This is the second CPSE (Central Public Sector Enterprises) ETF FFO in the current fiscal after Rs 17,000 crore raised in November 2018.
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During the last offering in November, the government mopped up Rs 17,000 crore, the biggest disinvestment transaction through ETF.
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The bank exchange traded fund (ETF) would be in addition to the two ETFs -- CPSE ETF and Bharat-22 ETF -- launched by the government which have seen huge investor demand.
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Of the total, 65 percent demand came from FPIs.
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RMF plans to raise up to Rs 14,000 crore in FFO3, which includes a base amount of Rs 8,000 crore.
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This would be the fourth tranche of the CPSE ETF, which comprises shares of 10 bluechip companies. In the earlier three tranches of the ETF, the government had raised Rs 11,500 crore.
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GAIL India, Container Corp and EIL have weightage of 11.25 percent, 5.08 percent and 2.28 percent, respectively in CPSE ETF.
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The CPSE ETF comprises 10 state-owned bluechips and shares in these companies can be sold only till the government stake in them reaches 55 percent.
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The state-owned companies or PSUs that will form part of the new ETF are ONGC, IOC, SBI, BPCL, Coal India and Nalco.
The third tranche of the government's exchange traded fund (ETF) of top 10 state-owned companies saw bids worth Rs 9,200 crore from investors, which is 3.7 times the amount sought to be raised.
The government will next week launch the third tranche of CPSE Exchange Traded Fund, managed by Reliance Mutual Fund, to garner about Rs 2,500 crore.
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Finance Minister Arun Jaitley has exuded confidence that receipts from PSU disinvestment will touch Rs 45,000 crore in 2016-17.
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Government's 10 percent stake sale in manganese miner MOIL on Wednesday saw a robust response from retail investors who put in bids for over 5 times the shares reserved for them, ensuring Rs 480 crore to the exchequer.
The second tranche sale of government's exchange traded fund (ETF) of top 10 state-owned companies saw bids worth Rs 12,000 crore from investors, which is twice the amount sought to be raised.
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With an objective to facilitate acceptance of subscriptions for Further Fund Offer of CPSE ETF, NSE has introduced an online facility for the investment and subscription of exchange traded fund on its e-IPO platform.
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After nearly three years of launching CPSE ETF, the government will on January 17 initiate the second tranche of fund raising to garner up to Rs 6,000 crore.
Reliance Mutual Fund has received the government's approval to manage its Rs 3,000 crore CPSE Exchange Traded Fund, which was launched in March 2014.
The Finance Ministry is planning to launch a revamped and retail investor-friendly CPSE Exchange Traded Fund (ETF) by October in which cash rich EPFO and NPS could park their money along with individual investors.
The Finance Ministry is planning to offer the second tranche of CPSE Exchange Traded Fund (ETF) by the end of March, which may fetch Rs 5,000 crore to the exchequer.
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