CPSE ETF debuts; surges over 11%

Shares of the CPSE Exchange Traded Fund (ETF) made a stellar debut today and ended higher by over 11 per cent.
Shares of Goldman Sachs Mutual Fund- CPSE ETF settled at Rs 19.40, up 11.17 per cent over its issue price of Rs 17.45 at the NSE. In intra-day, it rose by 11.34 per cent to Rs 19.43.
More than eight crore shares of the company changed hands during the day.
CPSE ETF, which comprises stocks of 10 public sector enterprises, including ONGC, Gail (India), Coal India, REC, Oil India, Indian Oil, Power Finance Corporation, Container Corporation of India, Bharat Electronics and Engineers India, has witnessed encouraging response from investors.

The new fund offer, which was closed on March 24, has mopped up bids worth around Rs 4,400 crore against the government target of raising Rs 3,000 crore from the CPSE ETF.
As per Goldman Sachs India MF, which has launched this product and is managing it, around 40,000 investors have invested in this ETF out of which many are retail and new investors.