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The Government proposes to sell 10 per cent stake in Engineers India Ltd. It hopes the stake sale may fetch around Rs 500-600 crore.
The share sale would be via follow-on-public offer. This is expected to be in the first half of February, EIL Chairman, A.K. Purwaha, told Business Line .
The price band and other details would be decided by the Government, he added.
At the current market price, 10 per cent share sale of the engineering and construction company may fetch Rs 500-600 crore, the Chairman indicated.
The Government has set a target of Rs 40,000 crore by selling its stake in public sector companies in 2013-14.
However, till now the Centre has been able to mop up only close to Rs 3,000 crore by selling shares in seven companies such as Power Grid Corporation of India, Hindustan Copper, National Fertilisers and MMTC.
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