EIL files Red herring draft prospectus; government to divest 10%

Mumbai: Public sector undertaking Engineers India Limited (EIL) has filed its draft Red Herring prospectus (DRHP) with the regulator SEBI for its further public offer of 33,693,660 equity shares of Rs5 each.

The offer is being made by the ministry of petroleum and natural gas. The offer would constitute a divestment of 10 per cent by the centre.
The offer will be through a 100-per cent book building process.

ICICI Securities Limited, HSBC Securities and Capital Markets (India) Pvt Ltd, IDFC Capital Limited and SBI Capital Markets Limited are the book running lead managers to the offer.

EIL is an engineering consultancy company providing design, engineering, procurement, construction and integrated project management services, principally focused on the oil and gas and petrochemicals industries in India and abroad.

The company also operates in a diverse set of other sectors like non-ferrous mining and metallurgy and infrastructure, apart from being a primary provider of engineering consultancy services.