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Govt seeks bids to sell majority stake in Shipping Corporation of India

By Reuters

  • 22 Dec 2020
Govt seeks bids to sell majority stake in Shipping Corporation of India
Credit: Pexels

The Indian government on Tuesday invited bids to sell its 63.75% stake in Shipping Corporation of India (SCI) to a private investor, in a key asset sale that was delayed due to the coronavirus pandemic.

In a statement on Tuesday, the government said the deadline for submitting initial bids would be Feb. 13.

At current stock prices, SCI's total market value is about 39.15 billion Indian rupees ($529 million).

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