Engineers India has great potential, says CMD
The Department of Disinvestment has already held overseas roadshows to attract foreign investors to the EIL stake sale.
The follow-on public offer (FPO) of Engineers India Ltd (EIL) will hit the capital market on February 6. The Department of Disinvestment has already held overseas roadshows to attract foreign investors to the EIL stake sale. The government plans to sell 3.36 crore EIL shares, with up to 5 percent of the offer reserved for employees. ICICI Securities, IDFC and Kotak Mahindra Capital, Edelweiss Financial Services and IDBI Capital are managing the disinvestment.
The government holds 80.4 per cent in the 'miniratna' public sector undertaking. In 2010, it had divested 10 percent of its stake in EIL through an FPO. In January last year, the government decided to go in for further disinvestment in EIL, which is a leading provider of design, engineering and project management and consultancy services for the hydrocarbon sector.
AK Purwaha, chairman & MD of EIL says “Plan is that 5 lakh shares had been put in for the company's employees, up to 35 percent is with the retail and rest is with QIBs, including HNIs, which can go up to 15 percent. The discount has been decided on the apex level is up to Rs 6—145-150. If you look at the fundamentals of the company, the way the company has strategized at this moment and into the future, is there is a great potential.”
The government plans to raise Rs 40,000 crore by way of disinvestment in the current financial year. So far, it has raised about Rs 3,000 crore through PSU stake sales. (with inputs from PTI)
EngineersInd stock price
On February 07, 2014, Engineers India closed at Rs 152.25, up Rs 0.90, or 0.59 percent. The 52-week high of the share was Rs 219.00 and the 52-week low was Rs 121.15.
The company's trailing 12-month (TTM) EPS was at Rs 16.53 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.21. The latest book value of the company is Rs 66.41 per share. At current value, the price-to-book value of the company is 2.29.
Read more at:
http://www.moneycontrol.com/news/business/engineers-india-has-great-potential-says-cmd_1038253.html
The follow-on public offer (FPO) of Engineers India Ltd (EIL) will hit the capital market on February 6. The Department of Disinvestment has already held overseas roadshows to attract foreign investors to the EIL stake sale. The government plans to sell 3.36 crore EIL shares, with up to 5 percent of the offer reserved for employees. ICICI Securities, IDFC and Kotak Mahindra Capital, Edelweiss Financial Services and IDBI Capital are managing the disinvestment.
The government holds 80.4 per cent in the 'miniratna' public sector undertaking. In 2010, it had divested 10 percent of its stake in EIL through an FPO. In January last year, the government decided to go in for further disinvestment in EIL, which is a leading provider of design, engineering and project management and consultancy services for the hydrocarbon sector.
AK Purwaha, chairman & MD of EIL says “Plan is that 5 lakh shares had been put in for the company's employees, up to 35 percent is with the retail and rest is with QIBs, including HNIs, which can go up to 15 percent. The discount has been decided on the apex level is up to Rs 6—145-150. If you look at the fundamentals of the company, the way the company has strategized at this moment and into the future, is there is a great potential.”
The government plans to raise Rs 40,000 crore by way of disinvestment in the current financial year. So far, it has raised about Rs 3,000 crore through PSU stake sales. (with inputs from PTI)
EngineersInd stock price
On February 07, 2014, Engineers India closed at Rs 152.25, up Rs 0.90, or 0.59 percent. The 52-week high of the share was Rs 219.00 and the 52-week low was Rs 121.15.
The company's trailing 12-month (TTM) EPS was at Rs 16.53 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.21. The latest book value of the company is Rs 66.41 per share. At current value, the price-to-book value of the company is 2.29.
Read more at:
http://www.moneycontrol.com/news/business/engineers-india-has-great-potential-says-cmd_1038253.html
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