What is CPSE-ETF?
Central Public Sector Enterprise (CPSE) ETF will specifically comprise of only PSU stocks which will be based on the CPSE Index from National Stock Exchange. The index comprises of 10 PSU stocks where the ETF is going to invest its corpus largely in the same proportion as of index. The ETF will be managed by Goldman Sachs Asset Management, which is known for its expertise in the same and will aim to mirror the performance of the CPSE Index. The NFO of this ETF is open from 18th March 2014 to 21st Mar 2014. The money collected through NFO will be handed over to the government who will then deposit shares of equivalent value in the ETF.
Regarding investing in this ETF, I guess you have to wait till its listed on the exchange as the NFO closes today. It should be listed next week.