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CPSE ETF raises Rs. 835 cr bids from anchor investors on 1st day

The scheme was launched on 18 March 2014 to aid government in meeting its divestment target

March 19, 2014 3:02 IST | India Infoline News Service
The CPSE ETF reported Rs. 835 crore total anchor investor subscription on Wednesday. The NFO of the scheme for anchor investor opened and closed on 18 March 2014.
The anchor investors included Bharti Axa Life Insurance Company, General Insurance Corporation of India, Life Insurance Corporation of India, National Insurance Company, State Bank of India, The New India Assurance Co and United India Insurance Co.
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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