The Finance Ministry has rejigged the CPSE Exchange Traded Fund (ETF) and has included in the basket the scrips of four State-owned companies NTPC, SJVN, NLC and NBCC, an official said.
The Ministry has removed three of the existing companies GAIL, Engineers India Ltd. (EIL) and Container Corporation of India in the ETF basket and has replaced them with four new companies.
“NTPC, SJVN, NLC and NBCC have been included in the CPSE ETF, while GAIL, EIL and Container Corporation removed from the basket. CPSE ETF now has scrips of 11 State-owned companies as against 10 earlier,” an official told PTI.
The Ministry is planning to launch the follow-on public offer of CPSE exchange-traded fund (ETF) by the end of this month and is eyeing about ₹8,000 crore as sale proceeds, the official added.
The other seven blue-chip PSUs in the CPSE ETF are ONGC, Coal India, IOC, Oil India, PFC, REC and Bharat Electronics. An ETF functions like a mutual fund scheme.
The Ministry has already raised ₹11,500 crore through three tranches of the CPSE ETF, and a fourth tranche is being planned by the end of this month.
“The Ministry, acting through the fund manager of the CPSE ETF, has rebalanced the CPSE ETF by including 4 new scrips,” the official added
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