CPSE ETF gets bids of over Rs 2,400 crore till Day 3

India Infoline News Service | Mumbai |

The scheme is now open for non-anchor investor and will close on 21 March 2014 for NFO subscriptions

CPSE Exchange Traded Fund (ETF) has garnered cumulative bids of over Rs 2,400 crore at the end of third day on Thursday due to strong demand from retail and institutional investors.
The scheme was launched on 18 March 2014 to aid government in meeting its divestment target and the government aims to raise Rs 3000 crore from this scheme. The scheme is now open for non-anchor investor and will close on 21 March 2014 for NFO subscriptions. Scheme will re-open for continuous Subscription and Redemption on or before 11 April 2014.
CPSE ETF is an open-ended Index Exchange Traded Scheme. Managed by Goldman Sachs Asset Management (India) Pvt. Ltd, the scheme to be listed on the Exchanges in the form of an Exchange Traded Fund (ETF), which tracks the central public sector enterprises (CPSE) Index.
The CPSE Index is constructed in order to facilitate the Government of India’s initiative to disinvest some of its stake in selected CPSEs through the ETF route. As per data published by the index service provider, as of 13th March 2014, the CPSE index had a PE ratio of 10.52 and dividend yield of 3.51%.
 

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