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.

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