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  • News From Press Govt to launch third tranche of CPSE ETF on Tuesday, all categories of investors applying for the ETF will get a discount of 3.5 per cent

    Govt to launch third tranche of CPSE ETF on Tuesday, all categories of investors applying for the ETF will get a discount of 3.5 per cent

    Source- Financial Express Mar 11, 2017

    The government will launch the third tranche of CPSE exchange traded funds (ETF) to garner about R2,500 crore on Tuesday. All categories of investors applying for the ETF will get a discount of 3.5%. The second tranche of CPSE ETFs, which opened for subscriptions from January 17 to January 20, was oversubscribed by 2.30 times, with bids worth R13,802 crore pouring in against the issue size of R6,000 crore. The CPSE ETF comprises scrips of 10 PSUs — ONGC, Coal India, IOC, GAIL (India), Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India. ETF is a marketable security that tracks a basket of assets such as stocks. Unlike mutual funds, it trades like a stock.

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