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Cabinet approves 10 percent stake sale in Engineers India - minister
January 10, 2013 / 7:48 AM / 5 years ago

Cabinet approves 10 percent stake sale in Engineers India - minister

NEW DELHI (Reuters) - The Indian cabinet approved the sale of a 10 percent stake in state-run Engineers India Ltd (ENGI.NS), a government minister told reporters on Thursday, continuing a process of off-loading state assets to shore up strained government finances.

    The minister declined to be named.

    The government aims to raise 300 billion rupees from share sales in state-run companies in the fiscal year that ends in March. Thus far, it has managed to garner just under 25 percent of that target.

    Reporting by Nigam Prusty; Editing by Sunil Nair

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