The fund, a legacy of the UPA was set up in March consisting of shares of 10 PSUs including ONGC, Gail, Coal India Ltd, Rural Electrification Corporation Ltd and Indian Oil Corporation Ltd.
According to media sources, government plans to raise Rs 5,000 crore ($809 million) by selling government-held shares in public sector companies through exchange traded fund (ETF).
The fund, a legacy of the UPA was set up in March consisting of shares of 10 PSUs including ONGC, Gail, Coal India Ltd, Rural Electrification Corporation Ltd and Indian Oil Corporation Ltd. It raised Rs 3,000 crore for the Centre in 2013-14.
Now, the Narendra Modi government is planning to take this route again, and the asset manager of these funds, Goldman Sachs, has already started to work out the nitty-gritty of the project, the reports added. If the government is sucessful in raising money through the ETF route, it will be the second effort by the government after the stake sale in SAIL and Coal India Limited. Coal India recently help the government raise close to Rs. 22,400 crore, in India's largest divestment move, as the government reduced its stake in Coal India from 89.65% to 79.65% via the OFS route.
The unit value of the fund has increased 38.8 per cent since its launch last March.
According to media sources, government plans to raise Rs 5,000 crore ($809 million) by selling government-held shares in public sector companies through exchange traded fund (ETF).
The fund, a legacy of the UPA was set up in March consisting of shares of 10 PSUs including ONGC, Gail, Coal India Ltd, Rural Electrification Corporation Ltd and Indian Oil Corporation Ltd. It raised Rs 3,000 crore for the Centre in 2013-14.
Now, the Narendra Modi government is planning to take this route again, and the asset manager of these funds, Goldman Sachs, has already started to work out the nitty-gritty of the project, the reports added. If the government is sucessful in raising money through the ETF route, it will be the second effort by the government after the stake sale in SAIL and Coal India Limited. Coal India recently help the government raise close to Rs. 22,400 crore, in India's largest divestment move, as the government reduced its stake in Coal India from 89.65% to 79.65% via the OFS route.
The unit value of the fund has increased 38.8 per cent since its launch last March.
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