Govt sells 2.21% stake for Rs 32 bn to ETF; complies to Sebi norms

The government undertook three back-to-back tranches of stake sale

After two rounds of stake sale in Coal India which generated a lukewarm response from the investors as well as company employees, the government has offloaded a further 2.21 per cent of its stakes to the CPSE ETF Scheme which has fetched it Rs 32 billion.

The stakes have been sold to Reliance Nippon Life Asset Management Ltd – the asset management company of the Central Public Sector Enterprise Exchange Traded Fund’s (CPSE ETF) mutual fund scheme at a discounted rate.

The total money raised so far from the total three tranches – open market, offering shares to employees and