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Our Bureau The third follow-on offer of Central Public Sector Enterprises Exchange-Traded Fund has received overall subscription of about ₹27,300 crore till 5 pm with the issue being oversubscribed 3.5 times.
The issue closes around mid-night on Friday.
Given the encouraging response, the government has now decided to retain up to ₹17,000 crore instead of the earlier target of ₹14,000 crore.
The overall mop-up of ₹17,000 crore through the third CPSE ETF is higher than the entire money raised by the government via its disinvestment programme so far this fiscal. The non-anchor book garnered close to ₹13,840 crore with over 1.25 lakh applications received till 5 pm.
This is the largest-ever FFO by the government through the ETF route.
The anchor investor book of the ETF, which closed on Tuesday, received subscriptions wrorth ₹13,461 crore against the book size of ₹2,400 crore. It was oversubscribed 5.57 times with 65 per cent investment coming from foreign institutional investors.
The government is offering an upfront discount of 4.5 per cent to all categories of investors.
Sundeep Sikka, ED & CEO, Reliance Mutual Fund, said the ₹17,000 crore raised from disinvestment is also the largest-ever equity fund offering through ETF in India, he said.
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