Third tranche of CPSE ETF subscribed 3.7 times

The retail portion was subscribed by two times with retail bid worth Rs 3,500 crore against the offer of Rs 1,750 crore.

By: ENS Economic Bureau
Mumbai | March 18, 2017 02:21 AM IST

1 min read

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Office of Reliance industries limited, Barakhamba road, where raid was conducted in New Delhi on Feb 19th 2015. Express photo by Ravi Kanojia.

The third tranche of the Central Public Sector Enterprises’ Exchange-Traded Fund (CPSE-ETF) saw subscription worth Rs 9,200 crore as of Friday.
This is over 3.7 times against the issue size of Rs 2,500 crore. The institutional portion was subscribed 7.6 times — with subscription worth Rs 5,700 crore against Rs 750 crore. The retail portion was subscribed by two times with retail bid worth Rs 3,500 crore against the offer of Rs 1,750 crore. “We, at Reliance, are delighted to have raised subscription interest of over Rs 23,000 crore in the ETF in last two months, leading to disinvestment of Rs 8,500 crore. This clearly shows the future potential of fund raising through ETFs,” said Sundeep Sikka, ED and CEO, Reliance Mutual Fund.

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