The government has set a price range of Rs 145-150 a share for the sale of a 10 per cent stake in Engineers India (EIL) starting on Thursday, aimed at garnering about Rs 500 crore.
“In connection with EIL’s further public offer of 3.37 crore equity shares through an offer for sale...the Empowered Group of Ministers (EGoM) has fixed the price band of Rs 145 to Rs 150,” EIL said in a BSE filing.
The price band was fixed during the EGoM meeting chaired by Union Finance Minister P Chidambaram.
EIL said a discount of Rs 6 a share will be offered to retail investors and employees.
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