BSE introduces online facility for CPSE ETF’s FFO subscription

To facilitate acceptance of subscriptions for Further Fund Offer of CPSE ETFs, BSE has introduced an online mechanism for investment and subscription of exchange-traded fund on its Internet-based book building system (iBBS) platform.

To facilitate acceptance of subscriptions for Further Fund Offer of CPSE ETFs, BSE has introduced an online mechanism for investment and subscription of exchange-traded fund on its Internet-based book building system (iBBS) platform.

The facility, which will be provided through the iBBS platform, will be made available to trading members registered with mutual fund industry body Amfi.

The exchange will conduct a mock session for BiMF (BSE iBBS Platform for Mutual Fund) module on the iBBS platform on January 16-17. Also, a mock trading session in this regard was conducted on Saturday.

The mock session is being conducted to familiarise the participants with the new segment on the iBBS platform for subscription and bidding of the second tranche of CPSE ETFs.

BSE has 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 ETFs.

Also, no separate registration will be required to access the platform. "The exchange is in receipt of the Sebi approval for providing stock exchange mechanism similar to the Sovereign Gold Bond mechanism through the iBBS platform to trading members… For subscription of FFO of CPSE ETF. The BiMF module on the iBBS platform can be accessed through Internet and leased line," BSE said in a notice.

The issue size of FFO, 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. PTI

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