Finance Ministry Invites EoI for Advisor to Set Up Financial Sector ETF
Moneylife Digital Team 27 June 2019
The union ministry of finance has invited expression of interest (EoI) for appointing an advisor to help it launch exchange traded fund (ETF) for financial sector. The EFT would comprise shares of listed state-run entities like banks (PSBs), insurance companies and financial institutions.
 
 
In an advertisement, the ministry says, "The government is considering for creation and launch of financial sector ETF comprising shares of PSBs, PSICs and PSFIs. Proposals are invited by 3.30pm on 26 July 2019 from internationally reputed SEBI or RBI registered merchant or investment bankers, consulting firms, financial institutions and asset management companies...to act as advisor to assist and advise the government in the process..."
 
Earlier the government had launched central public sector enterprises (CPSE) ETF and Bharat-22 ETF. So far the government has raised around Rs38000 crore in five tranches from the CPSE ETF and Rs32900 crore from the Bharat-22 ETF. 
 
While there are 11 state-run companies in CPSE ETF, there are 16 public sector companies in Bharat-22 ETF. Both these funds are listed on BSE and National Stock Exchange (NSE).
Comments
Aditya G
2 years ago
Interesting.
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