Leading stock exchange BSE has said subscriptions for the fourth tranche of CPSE ETFs will commence from next week on its Internet-based book building system (iBBS) platform, an online mechanism for investment.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

"The subscription CPSE ETF FFO-3 will commence from Wednesday, November 28, till Friday November 30, on BiMF (BSE iBBS Platform for Mutual Fund) module on iBBS platform of BSE," the exchange said in a circular.

The facility, which will be provided through the iBBS platform, will be made available to trading members registered with mutual fund industry body Amfi.

According to investment banking sources, 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 central public sector enterprises exchange-traded funds (CPSE ETFs).

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

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 namely NTPC Ltd, SJVN Ltd, NLC India Ltd and NBCC Ltd.

Watch This Zee Business Video Here:

Three existing companies, GAIL, Engineers India Ltd, and the Container Corporation of India, have been removed from the index as the government holding in these companies has fallen below 55 per cent.