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Government offers to sell 63.75 percent stake in Shipping Corporation

Posted on December 24, 2020December 24, 2020 by Nidhi Malviya

The government on Tuesday invited bids for strategic disinvestment of its 63.75 percent stake in Shipping Corporation of India with management transfer.

New Delhi: The government on Tuesday invited bids for strategic disinvestment of its 63.75 per cent stake in Shipping Corporation of India with management transfer.

The Department of Disinvestment and Public Asset Management (DIPAM) has issued a Letter of Interest (EOI) from prospective buyers till 13 February 2021, issuing a preliminary information memorandum (PIM). Based on the current market price, the value of the government’s stake in the shipping corporation is around Rs 2,500 crore.

The government has appointed RBSA Capital Advisors LLP as its transaction advisor to manage the disinvestment process.

The Economic Affairs Committee of the Cabinet gave in-principle approval to the strategic disinvestment of the Shipping Corporation in November last year.

However, due to the epidemic, it was delayed in implementation. The government has set a record disinvestment target of Rs 2.1 lakh crore in the budget of 2020-21.

Nidhi Malviya

Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.

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