Fourth tranche of Bharat-22 ETF: Anchor investors put in Rs 13,500-cr bids, subscription soars 27 times
The ETF issue that opened on Thursday received subscriptions from investors like mutual funds, foreign portfolio investors, and insurance funds
An exchange-traded fund (ETF) is a basket of securities that trade on an exchange, just like a stock.
Liquidity crunch key factor for slowdown, is it a bittersweet win for JSW to buy Bhushan Power; all this and more on Moneycontrol Pro
Others say that the credit slowdown is the result of lower demand in the economy and not its cause.
Govt had 57.02 percent in EIL prior the launch of the Rs 658.80 crore share buyback on 25 July
At the current market prices, the stake sale in five public sector enterprises could fetch the exchequer around Rs 11,500 crore.
The government had first launched a CPSE ETF, comprising scrips of 10 PSUs, in March 2014 under which retail investors have to invest a minimum of Rs 5,000 to buy units.
Most of the companies plan to utilise IPO proceeds for capacity expansion as well as working capital requirements.
The Finance Ministry, seeking to meet its disinvestment target of Rs 40,000 crore for current financial year, wants CIL to dole out a special dividend if the government's stake sale does not take place.
A shortfall in sale proceeds this year will compound the formidable challenges Chidambaram faces. The economy is growing slower than the official forecast, hurting tax revenues. He is widely expected to meet his deficit target, but he may yet have to find other revenue sources or cut deeper into spending.<br /><br />
The Cabinet on Thursday approved the setting up of a CPSE Exchange Traded Fund (ETF) which is expected to speed up disinvestment programme, check volatility in share price movement and encourage retail participation.
The Nifty has crossed the 5,100 milestone, but the key number to watch is 5,400 to confirm the bullishness. Thermax and Engineers India may be short-term punts.