RCap rises 4% as its CPSE ETF gets robust response

Shares of Reliance Capital surged over 4 per cent today after the third tranche of CPSE ETF attracted robust response from anchor investors.
Central Public Sector Enterprises - Exchange Traded Fund (CPSE ETF) is managed by Reliance Mutual Fund, a part of Reliance Capital.
On BSE, the scrip settled at Rs 557.70, up 4.16 per cent from previous close. Intra-day, it touched a high of Rs 564.
On NSE, the stock jumped 4.24 per cent to close at Rs 558. It touched a high of Rs 564 during the day trade.
The company's market valuation increased by Rs 562.11 crore to Rs 14,089.33 crore.

The third sale of government's ETF of top 10 state-owned companies attracted robust bids with the portion reserved for anchor investors getting subscribed over 7.5 times to the tune of Rs 5,700 crore today.

As much as 30 per cent of total issue size, or Rs 750 crore, was reserved for anchor investors.
The Reliance Mutual Fund-managed CPSE ETF has Further Fund Offer (FFO) size of Rs 2,500 crore.
The issue will open for subscription for retail investors and pension funds tomorrow and will remain open till March 17.
The government had raised Rs 6,000 crore in the second tranche of CPSE ETF in January and Rs 3,000 crore from the first tranche in March 2014.