Central public sector enterprise ETF gets bids of around Rs 12,000 crore

CPSE ETF FFO received applications from over two lakh investors from 300 cities across India

GN Bureau | January 21, 2017


#DIPAM   #FFO   #ETF   #CPSE  

The central public sector enterprise (CPSE) exchange traded fund (ETF) gets bids of around Rs 12,000 crore – over two and a half times the base issue size of Rs 4,500 crore, a PIB release said.

ETF is a marketable security that tracks a commodity or bonds, and trades like a common stock on stock exchange.

CPSE ETF further fund offer (FFO) received applications from over two lakh investors from 300 cities across India. This was the largest disinvestment program undertaken by the government of India using ETF and largest fund offering by any mutual fund in India till date. Anchor investors submitted bids of Rs 6,000 crore.

CPSE ETF FFO is part of larger disinvestment program announced by the department of investment and public asset management (DIPAM), ministry of finance. FFO was launched from January 17-20, 2017. Investors across all categories offered five percent upfront discount.

EPFO, SBI Bank, LIC, Morgan Stanley, Nomura and Kotak MF amongst prominent domestic and foreign institutions participated as anchor investors. The non-anchor portion received bids of Rs 6,000 crore – two times of Rs 3,000 crore (base) reserved in the issue. Non-anchor portion was largely subscribed by retail investors and PFS – both domestic and foreign.
 

Comments

 

Other News

New Delhi’s Indo-Pacific strategy enters a new phase

India appears to be investing fresh dynamism in its Indo-Pacific strategy. At the time when the US, under president Donald Trump, has adopted a conciliatory approach towards China and has changed the name of America’s Indo-Pacific Command to just Pacific Command, India has quietly moved towards con

CAG flags major fiscal lapses in Maharashtra

Maharashtra`s fiscal management has come under sharp scrutiny after the Comptroller and Auditor General (CAG) of India, in its State Finances Audit Report for 2024-25, flagged significant budgetary inefficiencies, accounting irregularities, understatement of key fiscal indicators and widespread governanc

The health sector research we are not doing

Some neglect is loud. This kind is quiet. It sits in research never commissioned, data never collected, questions never asked. In South Asia, that quiet has let the region’s worst health problems stay understudied, underfunded, and out of sight of those who could act.  

Study flags accessibility and last-mile challenges on Mumbai Metro Aqua Line

Mumbai Metro Line 3 (Aqua Line), the city`s first fully underground metro corridor and one of its largest public transport investments, represents a major engineering achievement and has been widely welcomed by commuters. However, the overall commuter experience continues to be constrained by accessibili

Centre intensifies preparedness as El Niño threat looms

Amid uncertainty in the southwest monsoon due to the potential impact of El Niño, the government is addressing the situation with comprehensive preparedness, a clear strategy, and strong ground-level action. While challenges remain, the entire system has been activated in advance and is working proa

India is crossing a climate threshold

On June 28, Delhi recorded a maximum temperature of 41.3°C, four degrees above the seasonal normal. But the “feels like” temperature, which factors in humidity, showed more than 51°C. What the body experienced was very different from what the thermometer recorded.  India`





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter