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Govt invites bids for sale of its 63.75% stake in Shipping Corporation

Non core assets of the company are being hived off and will not be a part of the sale

Shipping, ports, cargo
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The department has appointed RBSA Capital Advisors LLP to manage the strategic disinvestment, according to the advertisement. (Bloomberg)

Nikunj Ohri New Delhi
The government has invited bids for its entire stake in the Shipping Corporation of India, paving the way for yet another privatisation of a state-owned company after BPCL.

The interested buyers will have to submit an expression of interest to acquire the government’s 63.75 per cent stake in the shipping company by February 13, 2021. Buyers can submit their queries to transaction adviser by January 23, said the preliminary information memorandum released by the government.

Shipping Corporation owns and operates a third of Indian tonnage, and has operating interests in all areas of the shipping business. The company has 6

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First Published: Dec 22 2020 | 12:43 PM IST

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