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NITI Aayog proposes 26 pc strategic sale in Shipping Corp

Press Trust of India  |  New Delhi 

NITI Aayog has proposed strategic sale of about 26 per cent stake in Shipping Corporation of India, which could fetch about Rs 960 crore to the exchequer.

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

After the sale of 26 per cent stake, the 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 sale of 26 per cent stake could fetch about Rs 960 crore to the exchequer at current market prices.

The has budgeted to raise Rs 15,000 crore through strategic sale of PSUs this fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 14 2017. 20:23 IST