PSU offers on track: EIL issue in June

State-run Engineers India Ltd is likely to launch its up to Rs 1,200 crore ($270 million) follow-on public offer in June, a government official said on Tuesday.

State-run Engineers India Ltd is likely to launch its up to Rs 1,200 crore ($270 million) follow-on public offer in June, a government official said on Tuesday.

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Share sale in state-run refiner Indian Oil Corp will take place in this fiscal year, said Sidhartha Pradhan, a joint secretary in the divestment ministry, which is in charge of stake sales,.

He said the initial public offering by Coal India, the world's largest coal miner, would be in July, followed by share sales in miner Hindustan Copper, Steel Authority of India Ltd, Power Grid Corp and Indian Oil.

The government is likely to select six banks next month for the IPO of Coal India, the world's largest coal miner.