Business & Economy

Govt. to disinvest 10% of equity of Engineers India Limited through FPO

NetIndian News Network

New Delhi, January 10, 2013

The Cabinet Committee on Economic Affairs (CCEA) today approved a proposal for disinvestment of 10 percent of the paid-up equity in Engineers India Ltd. (EIL) out of its equity capital holding of 80.40 percent through a prospectus-based Further Public Offering (FPO), in the domestic market as per SEBI Rules and Regulations. 

After this disinvestment, the Government's shareholding in the company would come down to 70.40 percent. The paid up equity capital of the company, as on 31st March, 2012 is Rs.168.47 crore. 
EIL is a listed “Mini-Ratna” Central public sector enterprise under the administrative control of the Ministry of Petroleum and Natural Gas.
It is one of India’s largest companies to provide design, engineering and related project management and consultancy services for the hydrocarbon sector and the process plants industry in the country. 

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