“The new ETF could be launched as a New Fund Offer (NFO) followed by Further Fund Offer (FFO)/ Tap Mechanism/Tranche or in other additional offering which the government may deem fit to launch,” the RFP document said. The government has lined up stake sales in two fertilizer companies—Rashtriya Chemicals and Fertilizers Ltd and National Fertilizers Ltd. So far, the government has garnered Rs.3,183 crore from minority stake sales in NHPC Ltd, Indian Oil Corporation Ltd and NTPC Ltd. New Delhi: The government on Tuesday invited bids from asset management companies (AMCs) for the launch of a new exchange traded fund (ETF) comprising shares of listed central public sector enterprises (CPSE) and its stakes in other corporate entities. “The usual modes of undertaking a partial disinvestment offering of a CPSE to the market includes initial/further public offering, offer for sale through the stock exchange and Institutional Placement programme,” it added.

Source: Mint August 02, 2016 12:45 UTC