The India Express
The government has received multiple bids for privatization of Shipping Corporation of India, Department of Investment and Public Asset Management (DIPAM) Secretary, Tuhin Kanta Pandey said on Monday.
After which, the shares of privatization bound Shipping Corporation of India surged over 19 per cent in intra-day trade on Tuesday. It also hit a fresh 52-week high of Rs 123.55 on the BSE.
DIPAM in December had invited Expressions Of Interest (EOI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India, along with the transfer of management. The last date for submitting the bids was extended to March 1.
In her Budget speech for 2021-22, Finance Minister Nirmala Sitharaman had said, “a number of transactions namely Bharat Petroleum Corp Ltd, Air India, Shipping Corp of India, Container Corp of India, IDBI Bank, BEML Ltd, Pawan Hans, Neelachal Ispat Nigam Ltd among others would be completed in 2021-22.”
The government has already received multiple EoIs for the privatization of BPCL, Air India, and Pawan Hans.