Anchor investors oversubscribe 7.5 times for Reliance-CPSE ETF

Chennai March 14 (IANS) Anchor investors of Reliance Mutual Fund Central Public Sector Enterprises-Exchange Traded Fund (CPSE ETF) have bid for Rs 5 700 crore that is over 7.5 times of Rs 750 crore of reserved quota said industry sources.

Some of the anchor investors who participated in the bid on day one on Tuesday are BNP Paribas Morgan Stanley SocGen CitiGroup while the domestic investors include LIC Exide Insurance SBI Bank Axis Bank and Canara Bank.

Reliance Mutual Fund a part of Reliance Capital plans to raise Rs 2 500 crore through its second further fund offer (FFO) of its CPSE ETF.

The issue opens for all other investors from March 15-17 2017 with allocation priority to retail and PFs.

The bids received by the anchor investors also surpass the aggregate issue size on the first day by over two times.

Anchor investors had put in bids of Rs 6 000 crore as against Rs 1 800 crore in the CPSE ETF first FFO that concluded earlier last month.

While the numbers are awaited we are delighted to see this unprecedented response and strong appetite for the CPSE ETF especially by anchor investors said Sundeep Sikka ED and CEO Reliance Mutual Fund.

Retail investors and PFs have also shown keen interest and we hope to see good participation from them within the next three days Sikka added.

--IANS
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