The Cabinet Committee on Economic Affairs today decided to disinvest 10% paid up equity capital of Engineers India Limited, out of Government’s shareholding, in the domestic market through Public Offering. After this disinvestment Government shareholding in the company would come down to 80.40%.
EIL is a listed entity with government holding of 90.40% and balance holding with the general public. The decision to disinvest more government holding has been taken as the company at present has less than 10% mandatory public shareholding.
EIL shares closed 5% higher at Rs 1,738 on news of a possible disinvestment of government shares in the company. During the trading session the share also touched an all-timehigh of Rs 1,790 on the National Stock Exchange (NSE).
EIL shares closed 5% higher at Rs 1,738 on news of a possible disinvestment of government shares in the company. During the trading session the share also touched an all-timehigh of Rs 1,790 on the National Stock Exchange (NSE).
