Engineers India FPO to open Feb 6
The government is aiming to raise about Rs 450 crore by selling its 10% stake in the company through the FPO
The follow-on public offering (FPO) of state-run Engineers India (EIL) will open for subscription on February 6, sources have said.
The government is aiming to raise about Rs 450 crore by selling its 10% stake in the company through the FPO.
The empowered group of ministers (EGoM) headed by finance minister P Chidambaram had cleared the disinvestment in EIL last week.
Shares of the company today ended at Rs 144.55, down 1.25% on BSE. Currently, EIL has a market capitalisation of around Rs 4,870 crore.
The EIL offering follows the largely-successful FPO of Power Grid, which raised nearly Rs 7,000 crore in December 2013.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Feb 03 2014 | 6:52 PM IST