Banks pitch for Engineers India mandate

14 Apr 2013

The Indian government is selling a 10% stake in Engineers India, inviting banks to pitch for the bookrunner mandate.

The oil engineering company closed at Rp152.65 on Monday, valuing the 33,693,660 shares on offer at Rp5.1bn ($94m).

The follow-on public offering (FPO) will be the second time the government has sold down its holding in the oil engineering company after offloading another 10% stake in July 2010 ...

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