Shares of the company slipped by 4% to Rs 229 on BSE at 3.00 pm IST. It touched an intra-day low of Rs 225.
After this disinvestment, Government of India's shareholding in the company would come down to 70.40 percent. The paid up equity capital of the company, as on 31st March, 2012 is Rs.168.47 crore
EIL is a listed "Mini-Ratna" Central Public Sector Enterprise under the administrative control of the Ministry of Petroleum and Natural Gas.
It is one of India's largest companies to provide design, engineering and related project management and consultancy services for the hydrocarbon sector and the process plants industry in the country.