Engineers India FPO oversubscribed 1.56 times

By SiliconIndia   |   Thursday, July 29, 2010   |    1 Comments
Print Email


New Delhi: The follow-on offer of the state-owned Engineers India (EIL) has been oversubscribed 1.56 times by the third day. According to NSE data, the offer received bids for 5.24 crore shares as against 3.36 crore equities on offer. The FPO, through which the government expects to raise up to 977 crore, opened on July 27, and closed on Thursday for institutional buyers. For others, it will close on Friday. EIL is offering equity shares of 5 each in the price band of 270-290 per piece. By the end of the second day on Wednesday, the issue had been subscribed 51 percent, with most of the bids coming in from the qualified institutional buyers (QIBs). The government holds a little of over 90 percent in EIL and through the offer, it is selling 10 percent stake. EIL share was quoting at 327.95, higher by 1.56 percent, in the afternoon trade in the secondary market at NSE. The book running lead managers to the issue are ICICI Securities, IDFC Capital, SBI Capital Markets, HSBC Securities and Capital Markets India.
Write your comment now
 
Reader's comments(1)
1: The offer is receiving good response from investors.
Posted by:Jay - 29 Jul, 2010
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Type the characters you see in the picture
 
Sign Up for DailyDose and Read the Day's Highlights
Email:
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2014 InfoConnect Web Technologies India Pvt Ltd. all rights reserved