After granting in-principle approval, the Centre has now invited expressions of interest (EoI) for disinvesting its entire shareholding of 63.75%, along with the transfer of management control, in the listed company Shipping Corporation of India Ltd (SCI).

 

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The Secretary of the Department of Investment and Public Asset Management (DIPAM) tweeted to inform the interested players to submit their bids by 13/02/2021. SCI is currently the only Indian shipping company that operates in providing various services  break-bulk services, liquid/dry bulk services, international container services, and offshore services and passenger services. It also mans and manages many number of vessels on behalf of various government organizations and departments.  It is currently the largest Indian shipping company in terms of capacity having a varied fleet profile and is a central public sector enterprise (CPSE) under the administrative control of the Ministry of Ports, Shipping, and Waterways.

SCI was incorporated by the amalgamation of Eastern Shipping Corporation and Western Shipping Corporation as India’s first public sector company in shipping on October 2, 1961. RBSA Capital Advisors is the firm acting as the transaction advisor to this disinvestment process.

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