Government plans 4th tranche of CPSE ETF

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The government will launch the fourth tranche of the CPSE Exchange Traded Fund (ETF) and has started looking for merchant bankers to advise on the sale process.

Through the three tranches of CPSE ETF, the government has already raised Rs 11,500 crore -Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore from the second tranche in January 2017 and Rs 2,500 crore from the third tranche in March 2017.

CPSE ETF, which functions like a mutual fund scheme, comprises scrips of 10 PSUs — ONGC, Coal India, IOC, GAIL (India), Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.

The Department of Investment and Public Asset Management (DIPAM) floated a request for proposal (RFP) for appointing an advisor with experience and expertise in advising on creation and launch of equity ETFs/ equity mutual funds (MFs).

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