The Cabinet Committee on Economic Affairs approved the 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 31st March, 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.