Engineers India Sets Price Band At Rs 270 290 Share For Its FPO (26-Jul-2010)
The Empowered Group of Ministers has fixed the price band of Rs 270-290 for the follow-on public offer (FPO) of State-run Engineers India. Engineers India (EIL) is expecting to raise around Rs 1000 crore from the follow-on public offer (FPO) which will hit the market by July 27, 2010. The public offer of 3.36 crore equity shares of Rs 5 each will open on July 27 and will close on July 29 for qualified institutional buyers (QIBs) and on July 30 for the rest.
The offer comprises 712,000 equity shares for the company employees who would be entitled to the discount that retail investors will get in the offer that is being done through book building route.
HSBC Holdings Plc, ICICI Securities, SBI Capital Markets and IDFC Capital are book running lead managers for the FPO.
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