Business Economy 20 Nov 2018 Centre eyes Rs 14,00 ...

Centre eyes Rs 14,000 crore from CPSE ETF

PTI
Published Nov 20, 2018, 4:10 am IST
Updated Nov 20, 2018, 4:10 am IST
The issue will open early next week and investors would get 3.5-4 per cent discount over the issue price, the sources said.
The issue will open early next week and investors would get 3.5-4 per cent discount over the issue price, the sources said.
 The issue will open early next week and investors would get 3.5-4 per cent discount over the issue price, the sources said.

New Delhi: The government will next week launch the fourth tranche of CPSE ExchangeTraded Fund (ETF) to garner up to Rs 14,000 crore, sources said.

The government has already raised Rs 11,500 crore in the earlier three tranches of the ETF, which functions like a mutual fund scheme.

 

The issue will open early next week and investors would get 3.5-4 per cent discount over the issue price, the sources said.

The government is aiming to mop up Rs 8,000 crore, with a green-shoe option to retain either Rs 4,000 crore or Rs 6,000 crore from the fourth tranche of CPSE ETF, they added.

The number of scrips in the CPSE ETF has been increased to 11 state-owned companies, as against 10 earlier, with the entry of four new firms like NTPC, SJVN, NLC and NBCC.

Three companies —  GAIL, Engineers India and Container Corp, —  have been removed from the index as the government holding has fallen below 55 per cent.

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