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RBSA gets second disinvestment deal; named advisor for Shipping Corp

The government has a 63.75 per cent equity stake in the Indian flag carrier, which will be sold along with management control

Jyoti Mukul  |  New Delhi 

SCI, Shipping Corporation
Shipping Corporation of India

The Union government's Department of Investment and Public Asset Management (DIPAM) has appointed RBSA Advisors as the transaction advisor for the privatisation of The government has a 63.75 per cent equity stake in the Indian flag carrier, which will be sold along with management control.

With consolidated revenue of more than Rs 4,000 crore and a balance sheet size in excess of Rs 14,000 core, SCI is one of India's largest shipping companies in terms of Indian-flagged tonnage.

SCI is involved in the business of transporting goods and passengers. SCI's owned fleet includes bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, and several other vessel types. In addition, SCI manages a large number of vessels on behalf of various government departments and organisations.

RBSA was earlier this week also appointed transaction advisor for the NEEPCO sale to NTPC.

The plan is to complete these strategic sales before the end of FY20 so that the money flows into the Centre's coffers. With less than four months remaining for the year to end, government has a tough task ahead mobilising record proceeds of Rs 1.05 trillion.

First Published: Sat, December 07 2019. 19:35 IST
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