The Centre is likely to soon finalise adviser for setting up an Exchange Traded Fund (ETF), comprising stocks of listed Central public sector enterprises (CPSEs), a move to create an additional mechanism to meet the disinvestment target of Rs.30,000 crore for this fiscal.

The shortlisted four investment bankers — Citibank, ICICI Securities, SBI Capital Markets and Yuanta Funds — would make a presentation before an inter-ministerial group (IMG) on Thursday.

“Financial bids of technically qualified bidders will be opened on October 25,” a Finance Ministry official said.

The adviser will be required to advise the government in all aspects of creating and launching of the proposed ‘CPSE-ETF’

The ETF, which is an investment fund traded on stock exchanges, will have underlying assets and would be benchmarked against an index. The CPSE-ETF will track index of the listed public sector enterprises.

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