An Empowered Group of Ministers (EoGM) approved the sale of a 10 per cent stake in Engineers India (EIL) through a follow-on public offer (FPO) by the government, which may fetch the exchequer Rs 500 crore. The government plans to disinvest 3.36 crore EIL shares, with up to 5 per cent of the offer reserved for employees. The government plans to raise Rs 40,000 crore by way of disinvestment in the current financial year.
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