The further fund offer (FFO) will open for anchor investors on March 14, while subscription for retail investors would begin from March 15 and will continue till March 17, sources said.
Reliance Mutual Fund has filed draft offer documents with capital markets watchdog Sebi to garner funds for the government through a fresh tranche of the CPSE Exchange Traded Fund.
Together with the ETF proceeds, government has garnered Rs 30,000 crore from PSU disinvestment this fiscal. It will sell 10 percent stake in state-run miner MOIL tomorrow to garner Rs 480 crore.
The issue size of further fund offer, which will open on January 17 and close on January 20, is Rs 4,500 crore with a greenshoe option of Rs 1,500 crore, Reliance Mutual Fund said in a statement.
The government will take a decision this month on a follow on offer for its CPSE ETF, managed by Reliance Mutual Fund, which will fetch about Rs 5,000 crore to the exchequer.
CPSE ETF, which functions like a mutual fund scheme, comprises scrips of 10 PSUs -- ONGC, Coal India, IOC, Gail India, Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.
ICICI Prudential Mutual Fund has been appointed by the government to manage the second CPSE exchange traded fund (ETF) comprising stocks of PSUs in the current fiscal with an estimated corpus of Rs 6,000 crore.
Government has invited merchant bankers to help it sell minority stakes in 51 companies, including RIL, ICICI Bank, Axis Bank and L&T, and is looking at exiting them within three years