The government will begin tomorrow 5 percent stake sale in state-owned aerospace and defence company Bharat Electronics Ltd to raise about Rs 1,600 crore.
Sundeep Sikka, ED & CEO, Reliance Nippon Life Asset Management said it is a starting of a new trend where retail investors who have never been coming to ETF until now have started showing interest.
Reliance Mutual Fund will launch second tranche of CPSE ETF tomorrow and it is open for subscription till January 20, 2017. Watch the interview of Feroze Azeez, Deputy CEO at Anand Rathi Private Wealth and Hemant Rustagi of Wiseinvest Advisors in which they shared their views of the CPSE ETF and whether one should be applying for that.
A good dividend yield coupled with a five percent upfront discount makes CPSE ETF attractive for investors, said Sunil Singhania, CIO - Equity Investments at Reliance Mutual Fund. The government plans to raise Rs 6,000 crore from the follow-on CPSE ETF fund offer which will open for subscription on January 17.
Reliance Mutual Fund, an arm of Reliance Capital will launch a further fund offer of CPSE ETF or Central Public Sector Enterprises Exchange Traded Fund on January 17 and the offer will remain open until January 20.
Market Expert Ambareesh Baliga discusses the salient features of the CPSE ETFs, their lucrativeness and what they comprise of.
The Department of Divestment is batting strongly to tighten the market surveillance on the day of big offer for sale (OFS) especially after the Coal India case.
Govt plans to divest 5 percent each in REC and PFC in FY15 and hopes to garner around Rs 3,000-3,400 crore via stake sale.