India to launch $81m Engineers India selldown

By Rev Hui
05 Feb 2014

India plans to sell up to Rs5.05bn ($81m) worth of shares in Engineers India on Thursday as the government continues with its disinvestment policy that remains a long way off its target for the current fiscal year.

A total of 33.7m secondary shares, or a 10% stake in the engineering consultancy firm, will be put up for sale at an indicative price range of Rs145-Rs150 per share.

At those prices, Engineers India’s block will come at a discount range of 0.5% - 3.8% to the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial