Government to raise Rs.497 crore through EIL stake sale
New Delhi, Feb 13 : The government Thursday said it will raise Rs.497.3 crore through divestment of its 10 percent equity stake in Engineers India Limited (EIL).
According to a statement released by the finance ministry here, the Further Public Offering (FPO) of the company that closed Wednesday was oversubscribed 2.83 times.
The FPO was launched Feb 6 for divestment of the 10 percent government of India equity holding in the company with a price band of Rs.145-150 per share of face value of Rs.5 each. A discount of Rs.6 per share was offered to the retail investors.
Out of 3.36 crore shares which were offered, bids were received for 9.53 crore share, thus the issue was oversubscribed 2.83 times, the finance ministry said.
In the investor category-wise bids - the Qualified Institutional Buyers (QIBs) portion was subscribed 3.93 times and the retail individual investors 2.5 times.
"With the issue price being fixed at Rs.150 per share, the government would receive Rs.497.3 crore approximately towards disinvestment proceeds," the statement said.
With this divestment, the Indian government's holding in EIL will come down to 70.4 percent.
--IANS (Posted on 13-02-2014)
Share this Post:
Information on States of India:
Andaman Nicobar | Andhra Pradesh | Assam | Bihar | Chandigarh | Chhattisgarh | Dadar Nagar Haveli | Daman Diu | Delhi | Goa | Gujarat | Haryana | Himachal Pradesh | Jammu Kashmir | Jharkhand | Karnataka | Kerala | Lakshadweep | Madhya Pradesh | Maharashtra | Manipur | Meghalaya | Mizoram | Nagaland | Orissa | Pondicherry | Punjab | Rajasthan | Sikkim | Tamil Nadu | Tripura | Uttar Pradesh | Uttaranchal | West Bengal
INDIA REGIONAL MAPS:
Andhra Pradesh Travel Map | Bihar Travel Map | Goa Travel Map | Gujarat Travel Map | Haryana Travel Map | Himachal Pradesh Map | Karnataka Travel Map | Kerala Travel Map | Maharashtra Travel Map | Punjab Travel Map | Rajasthan Travel Map | Sikkim Travel Map | Tamil Nadu Travel Map | Uttar Pradesh Travel Map | West Bengal Travel Map |
MORE MAPS OF INDIA:
INDIA CITY MAPS:
KERALA TRAVEL MAPS: