The government’s disinvestment drive for 2016-17 has got a boost with the second tranche of the CPSE ETF witnessing strong demand from institutional investors. The anchor portion of the exchange-traded fund (ETF) received bids worth Rs 6,000 crore, four times more than the units on offer.
The ETF is a basket of 10 central public sector enterprises (CPSE), including Oil and Natural Gas Corporation (ONGC), Coal India and Indian Oil. The government is divesting shares in these companies to raise about Rs 6,000 crore as part of its 2016-17 disinvestment programme, the target for which is Rs 56,500 crore.
The
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