State-owned Engineers India's shares issued during the follow-on public offering (FPO) will commence trading on February 28.
Earlier, this month the government had offloaded nearly 10% of its holding in the company to raise around Rs 500 crore. The FPO, which was open between February 6 and February 12, had subscribed 2.81 times.
Engineers India fixed the price for the public issue at Rs 150 per share, top end of the price band. Retail investors were given a discount of Rs 6 per share. More than 70,000 retail investors had applied in the FPO.
Shares of the company are currently trading at Rs 150.25, up 2.3% on BSE.
