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Central Govt to mop up 10k cr from 7th CPSE ETF tranche

Central Govt to mop up 10k cr from 7th CPSE ETF tranche
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Highlights

The government is planning to raise over Rs 10,000 crore from CPSE ETF's seventh tranche that would be launched by the end of the current month, according to market sources.

New Delhi: The government is planning to raise over Rs 10,000 crore from CPSE ETF's seventh tranche that would be launched by the end of the current month, according to market sources. The issue is likely to open for anchor investors on January 30 and for other institutional and retail investors, the next day, they added.

Central Public Sector Enterprises ETF runs a concentrated portfolio with a handful of stocks having weights of as high as 20 per cent on the underlying index. The portfolio is concentrated towards the energy and oil sector.

Nippon Life India Asset Management, formerly known as Reliance Nippon Life Asset Management, is managing the CPSE ETF on the government's behalf and has already filed 'scheme information document' for CPSE ETF FFO 6 with markets regulator Sebi.

Sources privy to the development said the offer will have a base issue size of Rs 10,000 crore. Besides, there will be a green-shoe option. The decision to launch seventh tranche of CPSE Exchange Traded Fund (ETF) has been taken after receiving robust response for earlier stake sale by the government in the product.

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