CPSE Exchange Traded Fund (ETF) raised Rs 20,571 crore from its seventh tranche with government retaining Rs 16,500 crore by exercising the green-shoe option.

The ETF -- which had base issue size of Rs 10,000 crore -- closed for subscription on Friday.

The secretary of Department of Investment and Public Asset Management (Dipam) tweeted the numbers, but said the final numbers could get further updated.

Government had set its disinvestment target for 2019-2020 at Rs 1.05 trillion. Following, this tranche of CPSE ETF, the disinvestment receipts for government exchequer have risen to Rs 34,595 crore.

On Thursday, both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) had participated in the anchor book subscription.

Among FIIs, Goldman Sachs Investment (Mauritius), Societe Generale, Merrill Lynch Markets Singapre, were some of the investors. Among DIIs, mutual funds (MF) placed bids through their respective schemes.

ICICI Prudential Value Discovery, ICICI Prudential Multicap Fund, ICICI Prudential Equity Savings Fund, Kotak Balanced Advantage Fund, Kotak Equity Savings Fund and BNP Paribas Arbitrage Fund, were some of the MF schemes that had participated in the anchor book.

The anchor book had received bids worth Rs 9,200 crore, against book size of Rs 3,000 crore.

The ETF offered three per cent discount on issue price, which could give opportunity to investors to make smart gains.

On Saturday, Finance Minister disclosed the government's disinvestment target for FY21 was pegged at Rs 2.1 trillion.