Engineers India FPO : Opening on 27th July 2010

by khalid on 25/07/2010 · 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 company is entering into primary market with a Follow-on Public Offer (FPO) of Rs 1100 Crore. The FPO is opening on 27th Jul 2010 and the shares will be available for subscription up to 30th Jul 2010. The premium of the issue will be decided through a 100% Book Building Process. The money raised by this proposed FPO would be around Rs 1100 – 1200 crore.

The government holds 90.4 per cent stake in EIL, which will decline to 80.4 per cent after this FPO.

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

Issue Detail:-
Issue Open : 27th July 2010 – 30th July 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 33,693,660 Equity Shares of Rs 5 each
Issue Size : Rs. 909.73 – 977.12 Crores
Face Value : Rs 5 Per Equity Share
Issue Price : Rs. 270 – Rs. 290 Per Equity Share
Market Lot : 20 Shares
Minimum Order Quantity : 20 Shares
Listing At : BSE, 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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