Engineers India Limited which is tapping the capital markets with its FPO today announced the price band as Rs 270-290. The issue opens on Tuesday the 27th of July and closes on Friday the 30th of July. The size of the issue is 3,36,93,660 shares and the issue would raise Rs 909.73 crs at the lower band and Rs 977.12 crs at the upper price band.

Retail investors and employees will be given a discount of 5% on the issue price. The closing price of the share on Friday was Rs 337.65. At this price the discount being offered at the lower end of the price band is Rs 67.65 or 20% while at the upper band the discount offered is Rs 47.65 or 14.11%.

The share price will correct itself tomorrow once the markets open but at first cut this price look attractive and investors are likely to make money at these prices. The issue would be analysed post its road show today.