CPSEs win investors’ confidence
The government has launched the Further Fund Offer (FFO) of Bharat 22 Exchange Traded Fund (ETF) of Centre owned Public Sector Enterprises (CPSEs), aiming to raise Rs.6,000 crore through a disinvestment policy.
Managed by ICICI Prudential Fund, the Bharat 22 ETF comprises of 16 CPSEs covering six sectors, three Public Sector Banks and three private companies.
The Bharat 22 ETF was initially launched by the Government in financial year 2017-18, but this is first FFO.
The units of the scheme will be allotted to various category of investors including Anchor Investors, Retail Institutional Investors, Retirement Funds, Qualified Institutional Buyers (QIBs) and Non-Institutional Investors.
The issue was opened on 19 June 2018 for the Anchor Investors and from 20-22 June for the non-anchor investors.
The issue has attracted FFO applications aggregating nearly Rs.14,000 crore, including participation from the Foreign Institutional Investor under the Anchor and QIB category.
The Government reserves the right to retain the oversubscribed portion to the extent of Rs.2,400 crore. fiinews.com
