INSUBCONTINENT EXCLUSIVE:
MUMBAI: The third further fund offer (FFO) of the CPSE ETF by Reliance Mutual Fund was subscribed 3.5 times getting subscriptions worth Rs
This makes it the largest ever FFO by the government through the ETF route
The government will retain Rs 17,000 crore through this issue
The fund house has received 1.25 lakh application received till 5 pm
"The Rs 17,000 crore raised from disinvestment is also the largest ever equity fund offering through ETF in India
We have seen good participation from FIIs, retirement and pension funds and domestic institutions." says Sundeep Sikka, Chief Executive
Officer, Reliance Mutual Fund
The ETF offered a 4.5% to all categories of investors
from the power and construction sector, while three companies GAIL, Container Corporation and Engineers India exited the index
The asset management company first raised Rs 3000 crore through the NFO in March 2014, followed by Rs 6,000 crore in January 2017 and Rs
2500 crore in March 2017.
