Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Market / Stock-market-news/  CPSE ETF’s third tranche lists on exchanges
BackBack

CPSE ETF’s third tranche lists on exchanges

Reliance Mutual Fund-managed CPSE ETF opened at Rs27.61 on the NSE against the allotment price of Rs26.8, while on BSE it opened at Rs27.49

Units issued under Further Fund Offer of Reliance Mutual Fund CPSE ETF are available for trading on the exchange with effect from 28 March 2017, says BSE. Photo: MintPremium
Units issued under Further Fund Offer of Reliance Mutual Fund CPSE ETF are available for trading on the exchange with effect from 28 March 2017, says BSE. Photo: Mint

New Delhi: The third tranche of Central Public Sector Enterprises-Exchange Traded Fund (CPSE ETF), operated by Reliance Mutual Fund, got listed on the stock market on Tuesday. It saw positive response from investors with the net asset value (NAV) opened at Rs27.61 on the NSE against the allotment price of Rs26.8. On the Bombay Stock Exchange (BSE), it opened at Rs27.49.

“Units issued under Further Fund Offer of Reliance Mutual Fund CPSE ETF are available for trading on the exchange with effect from 28 March 2017," stock exchanges said in similarly worded circulars.

The Reliance Mutual Fund-managed CPSE ETF, which opened for subscriptions during 14-17 March , was subscribed by 3.7 times, with bids worth Rs9,200 crore pouring in against the issue size of Rs2,500 crore.

CPSE ETF, comprises scrips of 10 PSUs—ONGC, Coal India, IOC, GAIL (India), Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.

The government had raised Rs6,000 crore in the second tranche of CPSE ETF in January and Rs3,000 crore from the first tranche in March 2014. CPSE ETF was originally managed by Goldman Sachs MF, which was acquired by Reliance MF in October 2015.

The finance ministry last September gave its nod for the transfer of management of CPSE ETF to Reliance Mutual Fund.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 28 Mar 2017, 02:00 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App