The Cabinet Committee on Economic Affairs (CCEA) today approved disinvestment of 10 percent paid up equity in Engineers India Ltd. (EIL) out of its equity capital holding of 80.40 percent through a prospectus based Further Public Offering (FPO), in the domestic market as per SEBI rules and regulations.
After this disinvestment, Government of India's shareholding in the company would come down to 70.40 percent.
The paid up equity capital of the company, as on March 31, 2012 is Rs.168.47 crore.
EIL is a listed "Mini-Ratna" central public sector enterprise under the administrative control of the Ministry of Petroleum and Natural Gas.
It is one of India's largest companies to provide design, engineering and related project management and consultancy services for the hydrocarbon sector and the process plants industry in the country. (ANI)