Govt gets bids worth Rs 28K cr for CPSE ETF

Chennai: The government has received bids worth Rs 28,000 crore in the fifth tranche of CPSE Exchange Traded Fund (ETF) and will retain Rs 10,000 crore.

In a tweet, Secretary, Department of Investment and Public Asset Management (DIPAM) said, ‘CPSE ETF FFO4 oversubscribed by about eight times so far against the base issue size of Rs 3,500 crore. Government has decided to retain Rs 10,000 crore.’

Anchor investors had put in bids worth Rs 6,072 crore on the first day of the issue on 19 March. The issue, which closed on Friday, saw overall subscription of Rs 28,000 crore.

The government had set Rs 3,500 crore as the base issue size for the three-day issuance of the fifth tranche of CPSE ETF, with an option to retain over-subscription of up to Rs 10,000 crore. As much as 30 per cent of the issue size is reserved for anchor investors.