India has already raised more than $500 million from investors for a new fund that will invest in the stocks of state-controlled companies
March 31, 2014 Leave a comment
India Raises $513 Million for State Company Stock Fund
Foreign Institutional Investors Accounted for About $120 Million
March 21, 2014 8:50 a.m. ET
MUMBAI—India has already raised more than $500 million from investors for a new fund that will invest in the stocks of state-controlled companies, a person familiar with the deal said Friday.
The exchange-traded fund—which was created to buy shares of state companies directly from the Indian government—has raised close to $513 million, out of which foreign institutional investors accounted for around $120 million, the person said.
The fund accepted investments from retail investors until 6 p.m. India time Friday. It is likely to buy the government shares and list before April 4, the person said. It will be managed by Goldman Sachs Asset Management (India) Pvt. Read more of this post