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Government plans to sell 10% stake in Engineers India: Report

08 Jan 2013 Evaluate

In a bid to garner Rs 645 crore, the government is reportedly planning to sell 10% stake in Engineers India (EIL). In this regard, proposal for divestment of the stake in the company is likely to be discussed in the Cabinet Committee on Economic Affairs (CCEA) meeting this week.

At present, the government holds an 80.4% stake in the company. In 2010, it had divested a 10 per cent stake through a follow-on public offer.

In the July-September quarter of the current financial year, the company reported a net profit of Rs 161 crore, an increase of 10 per cent over the corresponding period in 2011-12.

Engineers India is a total solutions consultancy company & EPC contractor in the fields of Petroleum Refining, Petrochemicals, Pipelines, Oil & Gas Terminal & Storages, Mining and Metallurgy & Infrastructure projects. The company has diversified into newer areas such as Nuclear, Solar & Thermal Power, Water & Solid Waste Management, City Gas Distribution and Fertilizers.

Engineers India Share Price

241.55 13.05 (5.71%)
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