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Govt Invites Preliminary Bids To Sell 63.75 % Stake In Shipping Corp Of India
Shares of Shipping Corp were trading at Rs 86.30, up 4.54 per cent over its previous close on the BSE.
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The government on Tuesday invited expressions of interest for strategic disinvestment of its 63.75 per cent stake in Shipping Corp of India along with the transfer of management control.
The Department of Investment and Public Asset Management (DIPAM) has issued Preliminary Information Memorandum (PIM) inviting Expressions of Interest (EoI) from potential buyers by February 13, 2021.
Shares of Shipping Corp were trading at Rs 86.30, up 4.54 per cent over its previous close on the BSE.
I. Background to the decision to disinvest by the Government of
India
The Government of India ( GoI ) had,
in November 2019, lined up the sale of five (5) public sector
units ( PSUs ) stakes, including
its 52.98 per cent stake (114.91 crore equity shares) in blue chip
oil company Bharat Petroleum Corporation Limited
( BPCL ) and accordingly, sought
Expressions of Interest ( EOIs ) from
potential acquirers by July 31, 2020. The actual sell-off would
obviously depend upon the market once all EOIs had been received.
In a nutshell, BPCL has agreed to give its buyers ready access to
15.3 per cent of India s oil refining capacity and 22 per cent
of the fuel market share in the country. It is pertinent to sync
Government invites preliminary bids to sell 63.75% stake in Shipping Corp of India
At the current market price, the government s stake sale in Shipping Corp is valued at about Rs 2,500 crore.
By: PTI | New Delhi | December 22, 2020 12:05:43 pm
The Cabinet Committee on Economic Affairs in November last year gave in-principle approval for the strategic divestment of Shipping Corp. However, the plans were delayed due to the pandemic. (Representative image, source: Dhiraj Singh/Bloomberg)
The government on Tuesday invited expressions of interest for strategic disinvestment of its 63.75 per cent stake in Shipping Corp of India along with the transfer of management control.
The Department of Investment and Public Asset Management (DIPAM) has issued Preliminary Information Memorandum (PIM) inviting Expressions of Interest (EoI) from potential buyers by February 13, 2021.
Government plans to sell 296.9 million shares, its entire stake of 63.75 per cent in Shipping Corp
The Ministry of Finance on Tuesday, December 22, invited expressions of interest for the strategic disinvestment of its 63.75 per cent stake in the Shipping Corporation of India (SCI), the country s largest shipping company, along with the transfer of management control. The Department of Investment and Public Asset Management (DIPAM) has issued a Preliminary Information Memorandum (PIM) inviting the Expressions of Interest (EoI) from potential buyers by February 13, 2021. At the current market price, the government s stake sale in Shipping Corporation of India is valued at about Rs 2,500 crore.
Updated:
December 22, 2020 17:28 IST
The Department of Investment and Public Asset Management has issued Preliminary Information Memorandum inviting Expressions of Interest from potential buyers by February 13, 2021.
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The Department of Investment and Public Asset Management has issued Preliminary Information Memorandum inviting Expressions of Interest from potential buyers by February 13, 2021. The government on Tuesday invited expressions of interest for strategic disinvestment of its 63.75% stake in Shipping Corporation of India along with the transfer of management control. The Department of Investment and Public Asset Management (DIPAM) has issued Preliminary Information Memorandum (PIM) inviting Expressions of Interest (EoI) from potential buyers by February 13, 2021.