CPSE ETF: Fifth tranche subscription to open on Mar 19; govt eyes Rs 3,500 cr

The fifth tranche of the CPSE Exchange Traded Fund will open for subscription on March 19, wherein the government seeks to raise at least Rs 3,500 crore.

The fourth Further Fund Offer (FFO), which would be open from March 19-22, would help the government in mopping up funds towards meeting its disinvestment target of Rs 80,000 crore for the current fiscal ending March 31.

According to Reliance Mutual Fund, which is managing the CPSE ETF, the fifth tranche would open for subscription on March 19, for anchor investors.

Non-anchor investors, including retail investors, can put in their bids from March 20-22.

This would be the second CPSE (Central Public Sector Enterprises) ETF FFO in the current fiscal after Rs 17,000 crore raised November 2018.

So far, the government has raised a total of Rs 28,500 crore from rounds through CPSE ETF, including the first offer in March 2014 that mopped up Rs 3,000 crore.

"The CPSE ETF is trading at very attractive valuations. As on February 28, the ...