Government invites preliminary bids to sell 63.75% stake in Shipping Corporation of India

22 Dec 2020 Evaluate

The government has invited expressions of interest for strategic disinvestment of its 63.75 percent stake in Shipping Corporation of India (SCI) along with the transfer of management control. The Department of Investment and Public Asset Management (DIPAM) has issued a Preliminary Information Memorandum (PIM) inviting Expressions of Interest (EoI) from potential buyers by February 13, 2021.

The government has appointed RBSA Capital Advisors LLP as its transaction advisor to manage the disinvestment process. The Cabinet Committee on Economic Affairs in November last year gave in-principle approval for the strategic divestment of SCI. However, the plans were delayed due to the pandemic.

SCI is the only Indian shipping company operating break-bulk service, international container service, liquid / dry bulk service, offshore service, passenger service, in addition to manning / managing a large number of vessels on behalf of various government departments and organizations.

Shipping Corpn. Share Price

210.00 1.00 (0.48%)
24-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Shipping Corpn. 210.00
GE Shipping 968.85
Dredging Corp 849.00
Seamec 1115.80
Transworld Shipping 420.80
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