Thursday, 28 January 2016

Share Market Tips: Government to sell 10% stake in Engineers India; shares down 5%

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  • Shares of Engineers India declined 5 percent intraday Thursday post the Government of India, promoter of the company, has decided to offload the stake in the company.
  • The Government is proposed to sell up to 3,36,93,660 equity shares (10 percent) of the company through offer for sale (OFS).
  • The offer shall take place on both the exchanges on January 29, 2016 between 9.15 am to 3.30 pm on same day.
    • The Government will decide floor price for the said OFS on January 28, 2016.
    • At 09:33 hrs Engineers India was quoting at Rs 198, down Rs 7.40, or 3.60 percent on the BSE.

    1 comment:

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