Engineers India Ltd. is an engineering consultant mostly to oil and gas companies like Indian Oil and Oil and Natural Gas Corp, got Government approval to sell its 10 percent stake through this proposed IPO. Engineers India is one of the 60 profitable state-run firms where Government will dilute its stake in coming months by floating IPO or FPO.

At present Government stake is 90.40 percent in this profitable PSU and after this 10 percent stake offering it will reduce to 80.40 percent. This is 7th PSU, which is going to float IPO/FPO since Congress second term. The stock is in upper circuite of 20 percent, after the news came out. The Government also approved stock split from Rs 10 per share to Rs 5 per share, inspite of this they also approved two bonus shares for every share held.

Share’s Data :
BSE Code : 532178
Mkt. Cap: Rs 39525 Crores
P/E: 27.10
EPS: 61.25
Face Value : Rs 10
Last Dividend : 60% On Nov 2009
52 Week H/L : Rs 2079.70 / 405.00
Engineers India Ltd.share’s CMP is Rs 2079.70 on 15th Jan 2010.

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