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CIL offloads shares worth Rs. 550 crore in CPSE's ETF

The company has sold 2.2 crore shares amounting to Rs. 550.6 crore

April 01, 2014 10:28 IST | India Infoline News Service
Coal India has sold shares worth over Rs. 550 crore towards the CPSE's (central public sector enterprises) exchange traded fund as part of government's disinvestment programme.
The company has sold 2.2 crore shares amounting to Rs. 550.6 crore, CIL said in a filing to BSE (Bombay Stock Exchange). The ETF gives investors an opportunity to diversify their portfolio through cost-effective investment in blue-chip public sector companies across sectors at a 5% discount.
The CPSE ETF basket consists of shares of 10 PSUs and provides an opportunity for investors to become part—owners of Oil & Natural Gas Corp, GAIL India, Coal India, Indian Oil, Oil India, Power Finance Corp, Rural Electrification Corp, Container Corp, Engineers India and Bharat Electronics.
An ETF is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange.

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