The race to meet the Rs 80,000-crore divestment target for the current fiscal will largely depend on the CPSE-Exchange Traded Fund (ETF) to be launched next week. Besides, the board of Power Finance Corporation will meet soon to approve a buyout of the shares of Rural Electrification Corporation at a premium.
The ETF offer is likely to fetch Rs 3,500 crore and can be increased depending on the investors’ appetite, a senior finance ministry official said.
Officials said the ETF was likely to open for subscription on March 19 and would close on March 22.
“The additional amount over and above the base size of the ETF issue could be retained by the Centre, depending on over-subscriptions,” the official said.
