NEW DELHI: The Government is likely to invite financial bids for privatisation of state-owned Shipping Corporation of India (SCI) in the March quarter, an official said.
"The demerger of non-core and land assets of Shipping Corporation is at an advanced stage. The process is expected to be over in about three months' time, after which financial bids will be invited," the official was quoted by PTI as saying.
The financial bids from potential investors are expected in the January-March quarter, the official added. As per the balance sheet of SCI, the value of non-core assets held for demerger as of March 31, 2022, stood at Rs 2,392 crore.
In March 2021, the government had received multiple bids for privatisation of Shipping Corporation of India. However, the demerger process got delayed.
The Department of Investment and Public Asset Management (DIPAM) in December 2020, had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India, along with the transfer of management.
The Cabinet, in November in 2020, had given in-principle approval for strategic divestment of Shipping Corp.
