Cabinet Committee on Economic Affairs (CCEA) has approved the sale of 10 percent stake in the state-owned Engineers India (EIL), which may fetch the government around Rs 800 crore.
At present, the government holds 80.40 percent stake in the company, expect to raise about Rs 766 crore via follow-on public offer (FPO) or the recently introduced offer for sale through stock exchange or auction method.
Earlier, the government had offered over 40 percent discount for selling its 5.58 percent stake in Hindustan Copper, while it offered around 8 percent discount for offloading its 10 percent stake in NMDC.
