Ashok Kumar Purwaha, chairman, Engineers India, says that the government is planning to disinvest around 10 percent stake in the company via follow-on public offer (FPO) route. The FPO is likely to hit the market by the second quarter of 2013-14.
Ashok Kumar Purwaha, chairman, Engineers India Limited explains to CNBC-TV18 the company will post reasonable growth after recording continued growth in turnover of 50% with PBT and PAT levels at over-33%.
Ashok Kumar Purwaha chairman of Engineers India Ltd (EIL) says the company doesn’t require any borrowings in FY12. “We are a zero debt company today and are sitting on a cash of about Rs 2,000 crore. We don't need to go in for any borrowings.”