The centre has invited bids for 63.75 percent stake sale in Shipping Corporation of India (SCI) to a private investor. The divestment of which got delayed due to the pandemic this year. Investors can submit bids individually or as part of a consortium.
The government's statement Tuesday said the deadline for submitting initial bids would be February 13. The key asset sale drive by the government in the shipping major got delayed due to the Covid 19 pandemic.
At current stock prices, SCI's total market value is about Rs 3,915 crore. The government has appointed RBSA Capital Advisors LLP as its transaction advisor to manage the disinvestment process.
The Department of Investment and Public Asset Management is working towards concluding the sale in the current financial year as there is good investor interest and the transaction size is not big, as per media reports. At the current market price, the government’s stake in the shipping company is valued at Rs 2,500 crore.
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