<h1>Engineers India Ltd. FPO Oversubscribed 2.83 Times, Government Raises Rs. 497.3 Crore, Reduces Stake to 70.4.</h1> The Further Public Offering (FPO) of Engineers India Ltd. (EIL), launched by the Government of India for divesting 10% of its equity, was oversubscribed 2.83 times. The offering, with a price band of Rs. 145-150 per share and a Rs. 6 discount for retail investors, attracted bids for 95.37 million shares against the 33.69 million offered. Qualified Institutional Buyers subscribed 3.93 times, with significant interest from domestic financial institutions. The issue price was set at Rs. 150 per share, enabling the government to receive approximately Rs. 497.3 crore, reducing its holding in EIL to 70.4%.