With the launch of much-awaited CPSE-ETF on Tuesday, the government is expected to meet the lowered disinvestment target of Rs 16,027 crore for the current fiscal ending March 31.
The Exchange Traded Fund (ETF) is likely to garner around Rs 3,000 crore — which will accrue to the exchequer — through a new fund offer. The NFO for the portion reserved for anchor investors in the CPSE-ETF — around Rs 900 crore — will open on March 18. About Rs 2,100 crore will be raised from other investors for which the NFO will open on March 19.
So far, the government has raised about Rs 13,119 crore from disinvestment this fiscal. On Friday, the government raised Rs 5,340 crore by selling 10% stake in Oil India Ltd (OIL) to state-owned firms ONGC. Earlier this month, LIC has bought government’s 6% stake in power equipment maker Bhel for Rs 2,685 crore.
As per the revised estimates in the Interim Budget 2014, the disinvestment target was lowered to Rs 16,027 crore in this financial year from Rs 40,000 crore.
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