Centre looks to raise Rs 140 bn through basket share sale in 11 CPSEs

Public offering of rejigged CPSE ETF to hit markets by end-November

Speeding up the disinvestment drive, the centre is looking to raise as much as Rs 140-billion through a basket share sale in 11 central public sector enterprises (CPSEs). This disinvestment will be carried out through a rejigged version of the CSPE Exchange Traded Fund (ETF), which was first introduced in March 2014.

According to sources, the fundraising will be done through a follow-on fund offer (FFO), which will hit the market before the end of November. This will be the fourth and the biggest tranche of the CPSE ETF to hit the markets. The ETF is managed by Reliance Mutual