Processing .....please wait.. 
The article has been forwarded.... 
Engineers India FPO oversubscribed 1.56 times
By
SiliconIndia,Thursday, 29 July 2010, 21:36 Hrs
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.
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.
Don't Miss
Write your comment now
|
Submit your news/press release
Let our editorial department know about any news about your company, your
organization, or yourself, or any press release that you have. If we find it suitable for our audience, we will contact you and make a news. Please
also share any links for the news.
Reader's comments (1)
1: The offer is receiving good response from
investors.
Posted by: Jay - 29 Jul, 2010
Disclaimer
Messages posted on this Web site under the `Comments' area are solely the opinions of those who have posted them and do not necessarily reflect the opinions of Infoconnect Web Technologies India Pvt Ltd or its site www.siliconindia.com. Gossip, mud slinging and malicious attacks on individuals and organizations are strictly prohibited. Infoconnect Web Technologies India Pvt Ltd can not be held responsible for errors or omissions in content, nor for the authenticity of the user/company name or email addresses associated with posted messages. Infoconnect Web Technologies India Pvt Ltd reserves the right to edit or remove messages containing inappropriate language or any other material that could be construed as libelous, potentially libelous,
or otherwise offensive or inappropriate.Infoconnect Web Technologies India Pvt Ltd do not endorse the products and services or any other offerings mentioned in these messages.
Beautiful and dress selection, please go to Dresses
| Plan on visiting the Lotus Temple? Get Great Deals on Delhi Hotels ! |
Buy India Wholesale Products on DHgate.com
SPOTLIGHT
Serious collectors know that failing to insure a collection can be costly. Though not every collec..
|
|
|
|
|
