DoD invites bids from advisors for PSU fund

The Department of Disinvestment (DoD) has invited bids from internationally-reputed advisors for setting up an Exchange Traded Fund

Written by Press Trust Of India | New Delhi | Published: September 20, 2012 1:18 am

The Department of Disinvestment (DoD) has invited bids from internationally-reputed advisors for setting up an Exchange Traded Fund (ETF) for selling shares of PSUs to meet the disinvestment target of Rs 30,000 crore for this fiscal.

DoD in a public notice, invited proposals from internationally reputed merchant bankers,investment bankers,consulting firms and asset management companies,who have advised or launched equity ETFs.

The ETF comprising Central PSU shares,would be traded on stock exchanges much like stocks,and have an underlying benchmark,which could be an index on the stock exchange. After the appointment of the advisor,the DoD would appoint an ETF provider,to manage the fund.

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