Indian govt invites bids to sell its 63.75% stake in Shipping Corporation

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

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).

($1 = 74.0260 Indian rupees)