DALLAS, Tex. (April 7, 2014) - Perkins Coie advised the government of India on the creation and initial public offering of its first central public sector enterprise (CPSE) exchange traded fund (ETF) on the National Stock Exchange.  The ETF raised more than Rs 3000 crore (approximately US$501 million) in its initial public offering. The ETF will purchase and hold stakes in 10 selected central public sector companies (PSCs) through a mutual fund format.

The Government of India established the CPSE ETF as part of its disinvestment program allowing investors the opportunity to own shares in 10 major listed PSCs.  The 10 companies include the Oil and Natural Gas Company (ONGC), Coal India, the Gas Authority of India, Ltd. (GAIL), Rural Electrification Corporation, Oil India, Container Corporation of India, Power Finance Corporation, Indian Oil Corporation, Engineers India and Bharat Engineering.

Led by Dallas partner I. Bobby Majumder, the Perkins Coie team included Dallas associates Lyn Reinhardt and Kyle Simon.

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