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Reliance Capital’s CPSE ETF subscribed by 3.7 times

LiveMint logoLiveMint 17-03-2017 Nasrin Sultana

Mumbai: The Central Public Sector Enterprises Exchange Traded Fund, or CPSE ETF, managed by Reliance Capital Asset Management Co. has been subscribed over 3.7 times. The government aims to raise Rs2,500 crore from its third sale of the ETF as part of its divestment plan.

The issue was open for subscription from 15-17 March.

According to a company statement, more than 1.2 lakh retail applications were received for subscription and this portion was subscribed two times.

The institutional portion was subscribed 7.6 times.

The ETF saw strong anchor investor interest with bids of Rs5,700 crore, which is over 7.5 times the amount reserved for them. Some of the anchor investors include BNP Paribas, Morgan Stanley, SocGen and CitiGroup.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.

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