Engineers India Limited FPO Price band fixed at Rs. 270 to Rs.290

By Representative:
Public sector undertaking Engineers India Limited ("EIL" or the "Company"), proposes to enter the capital markets on 27th July 2010 with its follow-on public offer ("Offer") of 33,693,660 equity shares of Rs 5 each ("the "Equity Shares"). The Offer comprises a net offer to the public of 32,981,660 Equity Shares ("Net Offer") and reservation of 712,000 Equity Shares for subscription by Eligible Employees. The Offer marks a divestment of 10% in EIL by the President of India, acting through the Ministry of Petroleum and Natural Gas, Government of India (the "Selling Shareholder").

The Offer is being made through a 100% book building process wherein up to 50% of the Net Offer will be available for allocation on a proportionate basis to Qualified Institutional Buyers. Further, not less than 15% of the Net Offer will be available for to Non-Institutional Bidders and not less than 35% of the Net Offer will be available to Retail Individual Bidders.

The Selling Shareholder currently holds 90.40% of the pre-Offer paid-up capital of the Company. The object of the Offer is to carry out divestment of 33,693,660 Equity Shares held by the Selling Shareholder, wherein all proceeds of the Offer will go to the Selling Shareholder.

EIL has provided a range of engineering consultancy and project implementation services on more than 49 refinery projects, including eight greenfield refinery projects, seven petrochemical complexes, 35 oil and gas processing projects, 205 offshore platforms projects, 37 pipeline projects, 11 ports and storage and terminals projects, eight fertilizer projects and 26 mining and metallurgy projects. In the infrastructure space, it has provided a range of engineering consultancy services for more than 26 projects, including for airports, highways, flyovers, bridges, water and sewer management, as well as energy-efficient "intelligent" buildings. The Company has also completed 16 turnkey projects, including refinery and petrochemicals projects and offshore platforms.