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Government to sell 10% stake in Engineers India; shares down 5%

The Government is proposed to sell up to 3,36,93,660 equity shares (10 percent) of the company through offer for sale (OFS).

January 28, 2016 / 09:42 IST
     
     
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    Moneycontrol BureauShares of Engineers India declined 5 percent intraday Thursday post the Government of India, promoter of the company, has decided to offload the stake in the company.The Government is proposed to sell up to 3,36,93,660 equity shares (10 percent) of the company through offer for sale (OFS).The offer shall take place on both the exchanges on January 29, 2016 between 9.15 am to 3.30 pm on same day.The Government will decide floor price for the said OFS on January 28, 2016.At 09:33 hrs Engineers India was quoting at Rs 198, down Rs 7.40, or 3.60 percent on the BSE.Posted by Rakesh Patil

    first published: Jan 28, 2016 09:42 am

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