According to sources, the core group of secretaries on disinvestment, headed by the cabinet secretary, discussed the proposal and has mandated the Shipping Ministry to find out legal hassles, if any, in the process.
The government, at present, holds 63.75 per cent stake in Navratna PSU Shipping Corporation of India.
After the sale of 26 per cent stake, the government holding in the company will come down to 37.75 per cent.
Sources said the proposal would soon go to the Cabinet Committee on Economic Affairs.
The government has budgeted to raise Rs 15,000 crore through strategic sale of PSUs this fiscal.
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