The follow-on public offering (FPO) of state-run Engineers India (EIL) will open for subscription on February 6, sources have said.
The government is aiming to raise about Rs 450 crore by selling its 10% stake in the company through the FPO.
The empowered group of ministers (EGoM) headed by finance minister P Chidambaram had cleared the disinvestment in EIL last week.
Shares of the company today ended at Rs 144.55, down 1.25% on BSE. Currently, EIL has a market capitalisation of around Rs 4,870 crore.
The EIL offering follows the largely-successful FPO of Power Grid, which raised nearly Rs 7,000 crore in December 2013.
