Govt to offload 15% stake in SCI

Shipping minister T R Baalu today said that the central government is going to divest its 15% stake in Shipping Corporation of India (SCI).

"Currently, the central government has 80.12% stake in Shipping Corporation of India. After this proposal is materialised, the government equity will come down to around 65%," Baalu said.

Adding that, The proposal has been put forth before the disinvestment department to decide the timing. Out of 15% to be divested, 10% would be offered to employees.