With just about a fortnight left of FY14, the government on Tuesday launched the exchange traded fund of Central public sector enterprises hoping to raise Rs 3,000 crore. The long awaited CPSE-ETF is an open-ended scheme comprising of shares of 10 Central public sector enterprises, including ONGC, GAIL India and Coal India. It tracks an index fund but trades like a stock on the exchange. The new fund offer, which is being managed by Goldman Sachs India MF, opened for subscription on Tuesday for anchor investors (investing above Rs 10 crore) and will open for non-anchor and retail investors on Wednesday. The offer for non-anchor investors closes on March 21. Expressing confidence of its success, the finance ministry said the new index is another option for the government to sell stake in PSUs.
