The Government has raised Rs 310 crore by tendering its shares in the buyback programme undertaken by Engineers India, Department of Investment. The company buyback of shares fully subscribed. Government received Rs 310 crore out of total buyback size of Rs 587 crore. The government's stake in the company is at 51.32 per cent. For the current financial year ending March, the government expects to raise Rs 32,000 crore through disinvestment. The earlier target was to raise a record Rs 2.1 lakh crore through divestment.
Engineers India is engaged in the business of providing engineering and related technical services for petroleum refineries and other industrial projects.
