NEW DELHI : The government is aiming to raise about 30 bln rupees from the new fund offer of the proposed Central Public Sector Enterprises Exchange Traded Fund in March, a finance ministry official said.
“We shall file the prospectus with SEBI (Securities and Exchange Board of India) by February after the ETF structure is approved by the Empowered Group of Ministers”, the official said.
Finance Minister P. Chidambaram has already cleared the structure of the fund, the official said.
The fund, which will be a close-ended scheme, will open for subscription in March, the official said.
“We hope to raise about 30 bln rupees from the CPSE ETF”, the official said. The fund will consist of shares of 11 firms, mainly from the power and oil sectors, including ONGC, IOC, GAIL(India), Power Finance Corp, Rural Electrification Corp, Power Grid, Engineers India Ltd and Bharat Electronics Ltd. -Cogencis