Engineers India FPO to attract attention

Engineers India will be in focus this week, as the Government has decided to dilute its 10 per cent stake in the company at ₹145-150 a share. The follow-on public offer will hit the market on Thursday and remain open for the next three days. The company has offered a discount of ₹6 a share on the issue price to retail investors and its employees. The Government plans to raise about ₹500 crore through the stake sale. In 2010, the Government had divested 10 per cent stake in the company through an FPO at ₹290 a share.