NEW DELHI, June 21:
The Finance Ministry is planning to launch a new Exchange Traded Fund (ETF) as an additional mechanism to monetise government’s stake in listed PSUs and other companies.
The ETF may include government stake in companies held through SUUTI as well as those in which it still has some holding.
The Department of Investment and Public Asset Management (DIPAM) has set the ball rolling for the second ETF and has invited bids from ‘Advisors’ to help create and launch the proposed fund. “The Government proposes to create and launch a new ETF in addition to the existing CPSE ETF, comprising stocks of listed CPSEs and GoI stake in other corporate entities,” DIPAM said, while inviting bids from Advisors by July 11.
The government had launched in March 2014 the first ever Central Public Sector Enterprises or CPSE ETF, comprising scrips of 10 PSUs, which had garnered Rs 3,000 crore for the exchequer.
“The proposed new ETF will serve as an additional mechanism for the Government to monetise its shareholdings in listed CPSEs and other corporate entities that will eventually form part of the new ETF basket,” DIPAM added. (PTI)
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