<p>CPSE Exchange Traded Fund (ETF) has garnered cumulative bids of over Rs 2,400 crore at the end of third day today, buoyed by strong demand from retail and institutional investors.<br /><br /></p>.<p>The ETF today got bids worth Rs 600 crore from investors, taking the cumulative bids to Rs 2,400 crore at the end of the third day of the new fund offer (NFO), sources said.<br /><br />The government aims to garner Rs 3,000 crore from the ETF. The NFO closes tomorrow.As many as seven anchor investors, including State Bank of India and insurance companies, have already put in Rs 835 crore into the NFO.<br /><br />The insurers which have put in money in the ETF are LIC, Bharti Axa Life, General Insurance Corporation of India, National Insurance Company, The New India Assurance and United India Insurance.<br /><br />The government had reserved Rs 900 crore for anchor investors, or those bidding for more than Rs 10 crore of shares.<br /><br />As per the offer document filed with market regulator Sebi, individual investors can invest a minimum of Rs 5,000, while the maximum limit is Rs 10 lakh for investment in CPSE ETF.Non-institutional investors/qualified institutional buyers can invest in the scheme with a minimum investment amount of Rs 10 lakh.<br /><br />The CPSE ETF basket consist of shares of 10 PSUs and provides an opportunity for investors to become part-owners of Oil & Natural Gas Corp, GAIL India, Coal India, Indian Oil, Oil India, Power Finance Corp, Rural Electrification Corp, Container Corp, Engineers India and Bharat Electronics.<br /><br />The government has raised about Rs 13,119 crore from disinvestment so far in this financial year. A successful subscription of the ETF would help the exchequer get richer by Rs 3,000 crore.<br /><br />Assets under management of ETFs in India have gone up to Rs 11,807 crore in September 2013 from Rs 1,396 crore in March 2009. </p>
<p>CPSE Exchange Traded Fund (ETF) has garnered cumulative bids of over Rs 2,400 crore at the end of third day today, buoyed by strong demand from retail and institutional investors.<br /><br /></p>.<p>The ETF today got bids worth Rs 600 crore from investors, taking the cumulative bids to Rs 2,400 crore at the end of the third day of the new fund offer (NFO), sources said.<br /><br />The government aims to garner Rs 3,000 crore from the ETF. The NFO closes tomorrow.As many as seven anchor investors, including State Bank of India and insurance companies, have already put in Rs 835 crore into the NFO.<br /><br />The insurers which have put in money in the ETF are LIC, Bharti Axa Life, General Insurance Corporation of India, National Insurance Company, The New India Assurance and United India Insurance.<br /><br />The government had reserved Rs 900 crore for anchor investors, or those bidding for more than Rs 10 crore of shares.<br /><br />As per the offer document filed with market regulator Sebi, individual investors can invest a minimum of Rs 5,000, while the maximum limit is Rs 10 lakh for investment in CPSE ETF.Non-institutional investors/qualified institutional buyers can invest in the scheme with a minimum investment amount of Rs 10 lakh.<br /><br />The CPSE ETF basket consist of shares of 10 PSUs and provides an opportunity for investors to become part-owners of Oil & Natural Gas Corp, GAIL India, Coal India, Indian Oil, Oil India, Power Finance Corp, Rural Electrification Corp, Container Corp, Engineers India and Bharat Electronics.<br /><br />The government has raised about Rs 13,119 crore from disinvestment so far in this financial year. A successful subscription of the ETF would help the exchequer get richer by Rs 3,000 crore.<br /><br />Assets under management of ETFs in India have gone up to Rs 11,807 crore in September 2013 from Rs 1,396 crore in March 2009. </p>