EIL offers equity to employees at discounted rate

The government will garner Rs 31.5 crore through offloading of shares

GN Bureau | September 12, 2016


#shares   #equity   #EIL  


 State-owned Engineers India Ltd (EIL) will sell part of the government stake to its eligible employees at a discounted price of Rs 187.29 per unit. The move, which is a part of the disinvestment process, will fetch about Rs 31.5 crore to the exchequer.

As per the Cabinet approval, the company has offered 16.8 lakh share of Rs 5 each for subscription. The offer for sale shares shall remain open from September 15 to 23.
 
Earlier in January, the government nearly sold 10 percent stake in EIL through offer for sale. It helped the government to mobilise about Rs 640 crore.
 
The offer for sale of over 3.36 crore shares drew response from both institutional and retail investors, generating demand for over 8.56 crore shares.
 

Comments

 

Other News

3% of medicines are of poor quality: Survey

 More than three percent of medicines in India are ‘Not of Standard Quality’ (NSQ) and 0.0245 percent spurious, reveals a survey report on drugs quality by the ministry of health.  The survey carried out by National Institute of Biologicals (NIB), Noida found that out of the

BEL unveils new weapon system for MBT Arjun tank

 Bharat electronics limited (BEL) has launched a new weapon control system — Remote Controlled Weapon Station (RCWS) / Air Defence Weapon Station (ADWS) for 12.7 mm gun of MBT Arjun Mk II battle tank during recently concluded Aero India 2017 in Bengaluru. The new weapon control system

Sasikala camp in talks with OPS faction

 The Sasikala camp is in talks with the O Panneerselvam (OPS) faction and they are trying to win them over, says an AIADMK insider. Negotiation have started between the main AIADMK, which is with Sasikala, and the splinter group that is supporting former chief minister OPS. The party insider

Stories to read over the weekend

On October 1 last year, Mehtab Alam Ansari, 30, who worked as a tailor in Delhi, had arrived in his village, Chepa Khurd in Barkagaon tehsil of Harazibagh district, to celebrate Eid with his family. That morning, he was nearing Dadi Kalan, a neighbouring village, to meet an acquaintance when he hea

ONGC to invest of Rs 7,327 cr for five projects

  State run enterprise oil and natural gas corporation limited (ONGC) has decided to invest Rs 7,327 crore to develop five projects to produce oil and gas. The decision was taken in its 290th board meeting held on February 23. The projects include development of R-Series fields, incl

Shiv Sena may again ally with BJP

The civic election results could well have long term implications in Maharashtra’s politics, with the Bharatiya Janata Party (BJP) doing dramatically well and the Shiv Sena failing to get a simple majority.   The Shiv Sena won 84 seats, while the BJP bagged 82 seats. Th

Video

Digital Transformation Summit

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter