CPSE ETF FFO received applications from over two lakh investors from 300 cities across India
GN Bureau | January 21, 2017
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.
Sometime in 1999, I took Arun Jaitley out for meal for the column, “Lunch with Business Standard”. As is his wont, he chose his own place for lunch. It was at the Chambers at the Taj Mansingh hotel, an exclusive domain of the high and the mighty Delhi. As we sat down for the meal
The arrest of Palaniappan Chidambaram, former union minister of home & finance, by the CBI, albeit after his much dramatic disappearance and reappearance, has brought an end to his long run from the arms of law. As a finance minister, being at the other end of the law, the former ministe
An unintended consequence of the inversion of Article 370 and the division of the state of Jammu and Kashmir into two union territories is the curious revival of Pakistan’s interest in Indian history and sociology. For the first time in decades, a Pakistan prime minister made the Rasht
Neeraj Kabi, a critically acclaimed self-taught actor, theatre director, and acting teacher, has worked in Odiya, Hindi and international cinema, theatre, television and web series. In 2014 he was honoured with the best actor award at the 4th Sakhalin International Film Festival for his role in the fil
Prime minister Narendra Modi has told US president Donald Trump that Pakistan prime minister Imran Khan’s “incitement to anti-India violence” was not good for peace in south Asia. Modi and Trump had a telephonic conversation – their first since the Aug 5 move to chang
As children are consuming more and more fast foods and sweetened beverages are becoming, leading to obesity and related non-communicable diseases (NCDs), the Indian Academy of Pediatrics (IAP) has come out with guidelines on such substances. The dietary guidelines under its nutrition chapter