Reliance MF to launch fund offer for CPSE ETF to raise up to Rs\, 8\,000 crore

Reliance MF to launch fund offer for CPSE ETF to raise up to Rs, 8,000 crore

The offer will open for anchor investors on 27 November and for other investors on 28-30 November

The ETF will comprise NTPC, Coal India, IOCL, ONGC, REC, Power Finance, BEL, Oil India, NBCC India, NLC India and SJVN. Photo: Mint
The ETF will comprise NTPC, Coal India, IOCL, ONGC, REC, Power Finance, BEL, Oil India, NBCC India, NLC India and SJVN. Photo: Mint

Mumbai: Reliance Nippon Life Asset Management Ltd announced a further fund offer of its Central Public Sector Enterprises ( CPSE) exchange-traded fund (ETF) to raise up to Rs 8,000 crore as a part of the government’s overall divestment programme.

An upfront discount of 4.5% is being offered to all investors.

The offer will open for anchor investors on 27 November and for other investors on 28-30 November.

The ETF will comprise NTPC Ltd., Coal India Ltd, Indian Oil Corporation Ltd, Oil & Natural Gas Corporation Ltd, REC Ltd, Power Finance Corporation Ltd, Bharat Electronics Ltd, Oil India Ltd, NBCC ( India) Ltd, NLC India Ltd and SJVN Ltd.