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

“900 tenders worth Rs 150 crore?” For ward-level works: BMC

BrihanMumbai municipal corporation is floating nearly 900 tenders worth of Rs 150 crore in the next 10 days, but that is only for ward-level civic works, the BMC clarified on Monday, reacting to reports in a section of media.    “Since there are 25 wards in BMC, it involves m

Elections 2024: Banks, post offices to chip in for voter education

In a first-of-its-kind initiative, Election Commission of India (ECI) on Monday signed a memorandum of understanding (MoU) with two prominent organisations, the Indian Banks’ Association (IBA) and the Department of Posts (DoP), to amplify its voter outreach and awareness efforts ahead of the forthcom

Charming tales of the Snakeman’s early years

Snakes, Drugs and Rock ’N’ Roll: My Early Years By Romulus Whitaker with Janaki Lenin HarperCollins, 400 pages, Rs 699

Gripping graphic narrative helps make sense of pandemics past

The Moral Contagion By Julia Hauser and Sarnath Banerjee HarperCollins, 140 pages, Rs 699 The world has lar

“Globally, there is unprecedented positivity for India”

Addressing the Viksit Bharat Viksit Uttar Pradesh program in Lucknow on Monday, prime minister Narendra Modi launched 14,000 projects across the state, worth more than Rs 10 lakh crore at the fourth groundbreaking ceremony of UP Global Investors Summit held in February 2023. The projects relate to sectors

World’s biggest bird-a-thon begins in India

During the four days from Feb 16, more than a thousand birdwatchers throughout India are coming together with the goal of documenting as many birds as possible across the country’s diverse locations. Over one lakh birdwatchers globally participate in the annual Great Backyard Bird Coun

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter