Engineers India Limited (EIL) OFS getting oversubscribed 2.54 times

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....ngineers India Limited (EIL) OFS getting oversubscribed 2.54 times <br>News and Press Release<br>Dated:- 30-1-2016<br><BR>The first CPSE disinvestment of the last quarter of the fiscal year 2015-16 got off to a thumping start today with the Engineers India Limited (EIL) OFS getting oversubscribed 2.54 times. On offer was 10% paid up capital of the company comprising 33, 69, 36,600 shares, each o....

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....f Fv of &#8377; 5. Out of the shares offered for sale, 20% were reserved for retail investors i.e. those investors who placed bids for shares of total value of not more than &#8377; 2.00 lakh. In addition a 5% discount was also offered to retail investors on price bid. With this disinvestment, the GOI share in EIL will come down to 59.37%. At the end of the day with total subscription of &#8377;....

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.... 1641.52 crores the issue stood oversubscribed by 2.54 times. The investor enthusiasm for the issue is borne out by the fact that the indicative price for was &#8377; 190.63 which is above the floor price. The previous day (28/01/2016) closing price was &#8377; 194.05 (BSE)/ &#8377; 193.65 (NSE) and floor price was fixed at &#8377; 189. The highlight of the issue has been the overwhelming retai....

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....l investor participation of 3.92 times amounting to &#8377; 513.08 crores. The non retail participation was an impressive 2.20 times amounting to &#8377; 1128 crores. The issue was marked by robust all round participation from different categories: S.No Category Value (Rs crore) 1 Retail 513.08(31%) 2 Mutual Funds 243.32(15%) 3 Banks (public & private) 130.28(8.0%) 4 Insurance Compa....

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....nies (public & private) 583.23 (36%) 5 FII 86.75(5.0%) 6 Others (proprietary, HNI ETC) 84.86(5%) Total 1641.52 (100%)<BR> News - Press release - PIB....