Engineers India Ltd’s share buyback to open on July 25

NEW DELHI: State-owned Engineers India Ltd's Rs 658.80 crore share buyback will open on July 25 and close on August 7. According to a regulatory notice by lead manager IDBI Capital Markets and Securities Ltd, EIL plans to acquire 4.19 crore shares at a price of Rs 157 through the share buyback offer. EIL shares closed at Rs 164.95 on BSE on Friday. "The maximum number of equity shares proposed to be bought back represents 6.23 per cent of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the company," the notice said.