Engineers India FPO : Finally subscribed 13.36 times

by khalid on 09/08/2010 · 0 comments

Public sector undertaking Engineers India (EIL) was established in 1965 to provide design and engineering services for petroleum, power and fertiliser companies. The FPO of Engineers India Ltd has received a good response from the investors with the final over-subscription figure nearing to about 13.36 times on an overall basis. The IPO has managed to garner a magnificent response from Qualified Institutional Buyers (QIBs) Category where it overbid by 23.43 times on the final day.

The category-wise subscription status of Midfield Industries on closing day is given below:-

QIB : 23.43 Times
Non-Institutional Investors : 5.85 Times
Retail Investors : 2.99 Times
Employee Reservations : 0.57 Times
Overall : 13.36 Times

The object of the issue is to carry out the divestment of 33,693,660 Equity Shares.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Book Running Lead Managers (BRLMs) to the offer are ICICI Securities as well as HSBC Securities and Capital Markets (India), IDFC Capital and SBI Capital Markets.

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