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EIL To Offers Stake Sale Through OFS To Staff

Engineers India Ltd (EIL) is going to start its Offer For Sale (OFS) where it will offer 16.84 lakh shares of face value Rs 5 each to its eligible employees.

The EIL Offer For Sale (OFS) will remain open between September 15 and 23.

Engineers India Limited (EIL) is a Navratna public-sector undertaking of the Government of India under the Ministry of Petroleum and Natural Gas. It was set up in 1965 to provide engineering and related technical services for petroleum refineries and other industrial projects.

EIL has two wholly owned subsidiaries, EIL Asia Pacific Sdn Bhd in Malaysia, and Certification Engineers International Ltd, to undertake Independent Certification, and Third-Party Inspection (TPI) assignments.

This OFS will be part of the disinvestment plan of Government Of India (GOI). Right now the Union Government owns 59.37 per cent stake in the State-owned firm.

Market Update:

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After RBL Bank IPO Bidding and RBL Bank IPO Allotment now RBL Bank IPO Listing also completed successfully. Yet another IPO giving good handsome listing gains to its investors.

Now next in pipeline is L&T Technology IPO which is going to start from September 12, 2016.

GNA Axles Ltd IPO bidding also going to start from September 14, 2016 – September 16, 2016.

After that ICICI Prudential Life Insurance IPO will open on September 19,2016 and will close on September 21, 2016.

2 NSE SME IPO that is Crown Lifters Ltd IPO (CLL IPO) and Husys Consulting Ltd IPO (Husys Consulting IPO) bidding will start from September 9 – September 19.

There are some good stocks in Pipeline this year including BSE itself coming with its own IPO. BSE will be selling its shares on index and traded on exchange.

Other some important IPO’s to look upon are NSE IPO and HDFC Standard Life IPO etc.

So Keep watching this blog to keep yourself updated with all the news.

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Latest Grey Market Premium (GMP) of L&T Technology IPO (LTT IPO) is between Rs 43 – Rs 48 per equity share. While Current  Grey Market Premium (GMP) of ICICI Prudential Life Insurance IPO (ICICI Pru Life IPO) is between Rs 18 – Rs 22 per equity share.

GNA Axles Ltd IPO (GNA Axles IPO) Grey Market Premium (GMP) between Rs 14 – Rs 17 per equity share.

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