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Government weighs fresh tranche of CPSE ETF

Staff reporter, New Delhi
12/03/2019   0 Comments

The government is considering a fresh tranche of CPSE ETF to raise Rs 4,000-5,000 crore this month. The government's disinvestment proceeds have touched Rs 56,473 crore so far in the current fiscal as against the full year Budget target of Rs 80,000 crore. Last month, as much as Rs 10,000 crore came in from Bharat-22 ETF and, another Rs 5,379 crore from the sale of Specified Undertaking of Unit Trust of India (SUUTI) stake in Axis Bank."CPSE ETF in November was the biggest divestment transaction via ETF,” the report stated. 

The government is reported to be confident of meeting Rs 80,000 crore divestment targets. However, there is no final call on the fresh tranche of the CPSE ETF, the sources added. The government is eyeing around Rs 15,000 from REC-PFC deal. In February, the government raised Rs 10,000 crore through the additional offering of Bharat-22 Exchange Traded Fund (ETF). It has sold as much as 3 per cent stake in Axis Bank held through SUUTI through an offer for sale (OFS) and raised about Rs 5,300 crore. For the next financial year, the divestment target has been set at Rs 90,000 crore.

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