India govt opens bids to sell majority stake in Shipping Corp of India

22 dec 2020

India govt opens bids to sell majority stake in Shipping Corp of India

On Tuesday the Indian Government has invited bids to sell its 63.75% shares to shipping corporation of India. On Tuesday the government said the deadline for submitt initially bids is on Feb 13th. According to a news paper report the government is planning to sell 296.9 millions worth shares. On current bases the share price of SCI's is around ₹4,000 cr. Shares were up 3% at ₹85.30.
The government has so far raised ₹11,006 crore through minority stake sale in CPSEs this fiscal year. The strategic sale process of BPCL and Air India is ongoing and both the companies have received "multiple" expressions of Interest (EoI) from potential buyers.