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IISL appointed index provider for proposed CPSE ETF

The PSU stock ETF is expected to be listed by October-November

July 23, 2013 4:15 IST | India Infoline News Service
The department of disinvestment, in consultation with Goldman Sachs AMC, has appointed India Index Services & Products (IISL) as the index provider for the proposed CPSE ETF (central public sector enterprises-exchange traded fund), according to a media report.

Earlier this year, the Cabinet gave its approval to form the CPSE ETF for PSUs. The government plans to raise Rs. 50 billion through ETFs as a part of its Rs. 400 billion divestment plan in the current fiscal.

According to the plan, an index based on the shares of PSUs will be created. The PSU stock ETF is expected to be listed by October-November, the report added.

The empowered group of ministers, headed by finance minister P Chidambaram will gives its final approval to the Index. Once the index is finalised, the AMC will submit the offer documents to SEBI, which will approve the listing of the new fund offer (NFO).

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