EPFO decides to invest Rs2800 crore in CPSE ETF
New Delhi: A day before the Central Public Sector Enterprises exchange-traded fund (CPSE-ETF)’s follow-on sale begins, the Employees’ Provident Fund Organisation (EPFO) has said it would invest at least Rs2,800 crore or over 62% of the original issue size of the further fund offer. This is the first time EPFO is participating in the government’s divestment plans.
“The finance ministry wanted us to invest Rs3,000 crore but we have agreed to invest Rs2,800 crore as of now,” central provident fund commissioner V.P. Joy said.
As a part of its divestment programme, the government last week announced the launch of its second tranche sale of the CPSE ETF, aiming to raise Rs4,500 crore, stretchable up to Rs6,000 crore. EPFO officials said although the finance ministry had sounded them out earlier, they got in touch with the pension fund last week after its formal announcement. Livemint