EIL

Follow-On Public Offer to be Opened by EIL in July

Follow-On Public Offer to be Opened by EIL in JulyOfficial reports have confirmed that the Government-run Engineers India Ltd. is most likely to open a follow-on public offer for the sale of Government's 10% stake in the firm in July. With the sale, the company is looking to raise nearly Rs. 1,000 crore.

"At current market price, (the) government is expected to raise Rs 1,000 crore through sale of its 10 per cent stake in EIL", company Chairman and Managing Director A K Purwaha said.