Engineers India (EIL) is planning to sell part of the government’s stake to its eligible employees, as part of its approved disinvestment plan. The government has offered 16.84 lakh shares of face value Rs 5 each to eligible employees. Adding that the offer-for-sale (OFS) will remain open between September 15 and 23.
The shares will be offered at Rs 187.29 each, which is at a 5 per cent discount on the cut-off price of Rs 197.15 a piece that was discovered in the offer-for-sale in January this year.
EIL shall render EPCM services and will provide Project Management, Process Design and Detailed engineering, Procurement & Expediting Services, Quality Assurance, Construction Management & Supervision and Assistance in Start-Up, Commissioning services to IOCL.
