Indian Government to sell its majority bid in SCI to private investors

The government is all set to sell its 63.75% stake in Shipping Corporation of India(SCI) to a private investor. The government plans to sell its entire stake which is a total of 296.9 million shares. In a statement on Tuesday, the government said the deadline for submitting initial bids would be Feb 13. The cabinet committee on Economic Affairs gave an approval for divestment of the Public Sector Enterprise.