Government opens bids to sell majority stake in Shipping Corporation of India
Synopsis
The Finance Ministry has invited global expression of interest for strategic disinvestment of 63.75% government-held shares in Shipping Corporation of India along with transfer of management control.
The Finance Ministry has invited global expression of interest for strategic disinvestment of 63.75% government-held shares in Shipping Corporation of India along with the transfer of management control.
The government proposes to disinvest its entire shareholding in SCIL comprising 29,6942,977 equity shares, which amount to 63.75% of SCIL's equity share capital.
Those interested in picking up a stake, need to submit their expression of interest by February 13, 2021.
Currently, SCI's total market value is about Rs 3,915 crore.
The in-principle approval from the Cabinet Committee on Economic Affairs for strategic divestment of SCIL came in November 2019. The onset of the Coronavirus pandemic delayed the disinvestment plans.
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