Another government company, Shipping Corporation of India, was sold by the government

New delhi date. 20 December 2020, Sunday

The government has now decided to sell one more state-owned company as part of the process of disinvestment.

According to sources, the government plans to sell all its 63 per cent stake in Shipping Corporation of India and is preparing to bid for it. The government has invited applications from interested companies and has set a deadline of mid-February. The company aims to complete the sale process in the same year.

Shares of the company, meanwhile, closed 3.33 per cent higher at Rs 86.55 on Friday. At current market prices, the government's stake in the company is expected to touch Rs 2,500 crore. The plan was delayed due to.

The government has set a target of raising Rs 2.1 lakh crore through disinvestment in the current financial year but so far the government has managed to raise only Rs 11,000 crore.