The new fund offer of the Central Public Sector Enterprises ETF will open on March 19 for retail investors and close on March 21. For anchor investors the NFO opens on March 18.
The NFO aims to raise a maximum of ₹3,000 crore subject to a maximum of 3 per cent of the paid-up share capital of each of the constituents of the CPSE Index. The Goldman Sachs-managed open-ended exchange-traded fund will track the CPSE index of NSE.
Ten CPSEs will be available at a discount of 5 per cent on the “Reference Market Price” of the underlying shares of CPSE Index.
Retail investors holding units continuously for one year from the allotment date will receive one loyalty unit for every 15 units held.
The minimum subscription for retail investors is ₹5,000 and the maximum is ₹2 lakh. For HNIs and institutions, the minimum subscription is ₹2 lakh. There is no entry/exit load and the scheme offers tax benefits as it is in compliance with Rajiv Gandhi Equity Savings Scheme.
The scheme will re-open for continuous subscription and redemption latest by April 11.