NSE Introduces Online Facility for Investment

2019 ias preliminary exam test series

National Stock Exchange, Delhi has introduced an online facility for investment and subscription of exchange traded fund on its e-IPO platform.

National Stock Exchange (NSE) conducted a mock session for new ‘e-ETF’ on e-IPO platform on January 13 and January 16-17 in order to familiarise with the new facility.

The move comes after NSE received approval from SEBI to extend its stock exchange mechanism currently being used for accepting subscriptions for Sovereign Gold Bonds (SGBs) to Further Fund Offer (FFO) of CPSE ETF.

The issue size of Further Fund Offer, which will open on January 17 and close on January 20, is Rs. 4,500 crore with a greenshoe option of Rs. 1,500 crore.

The FFO is open for all categories of investors, including anchor, retail, retirement funds, QIBs, non-institutional investors and Foreign Portfolio Investors (FPIs).

Central Public Sector Enterprises Exchange ETF, which functions like a mutual fund scheme, comprises the scrips of 10 PSUs — ONGC, Coal India, IOC, GAIL (India), Oil India, PFC, Bharat Electronics, REC, Engineers India and Container Corporation of India.

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