The last date for putting in bids is December 26.
The Department of Investment and Public Asset Management (Dipam) has sought proposals for appointment of a consultant and a legal adviser to manage the Bharat Bond Exchange Traded Funds (BBETF)’s asset under management (AUM) worth Rs 50,000 crore.
The last date for putting in bids is December 26.
The AUM of BBETF has significantly grown from around INR 12,000 Cr. at the time of launch in 2019 to more than INR 50,000 Cr to date.
The BBETF comprises bonds of CPSEs, CPSUs, Central Public Financial Institutions (CPFIs) and other government organisations. These institutions have issued bonds and raised debt of Rs 33,400 crore since 2019, using the ETF platform.
Dipam on Friday issued a request for proposal for appointing an advisor/consultant with experience and expertise in advising or who has been involved in a relevant capacity in the launch of an ETF/Debt ETF /Debt MF/ index linked fund/corporate bonds issuances.
Merchant bankers/investment bankers/consulting firms/financial institutions; either individually or as a consortium; can bid to act as the advisor/consultant.
The advisor will analyse, assist and advise on the possible monetisation of the debt of the select CPSEs through market-oriented instruments.
“The Advisor will be required to advise and work with the government in all aspects for the launch of new offering and managing/rebalancing of existing Bharat Bond ETF,” Dipam said in the RFP.
Dipam also sought proposals from reputed law firms to act as Legal advisor and assist in the process of management of Bharat Bond ETF.
Source:financialexpress.com