Govt clears ETF plan, Coal India and POWERGRID among 11 cos in fund

New Delhi :  The Empowered Group of Minister, headed by Finance Minister P Chidambaram decided to form an Exchange Traded Fund (ETF) comprising scrips of 11 bluechip state-owned firms, that will be offered in the market with a view to garnering Rs 3,000 crore this fiscal.

 

“This EGoM was to finalise the basket for PSU ETF. This basket will comprise of 11 companies, all bluechip PSUs. We expect to raise around Rs 3,000 crore,” Disinvestment Secretary Ravi Mathur said. The firms which would form part of the basket are ONGC, Coal India, GAIL, Power Grid, REC, Oil India, Container Corporation, Power Finance, Indian Oil, Engineers India and Bharat Engineering.

 

The Department of Disinvestment (DoD) will now file the necessary documents with market regulator Sebi and the ETF would be launched within a month, Mathur said. FREE PRESS JOURNAL.