View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
August 16, 2010

SCI Plans Stake Sale

Shipping Corporation of India (SCI) has decided to divest 20% of its stake by offering fresh shares as part of its disinvestment programme. The corporation, which reported a 60% profit rise in the first quarter, seeks to raise funds to add 14 ships to its fleet this year. The gove

By cms admin

Shipping Corporation of India (SCI) has decided to divest 20% of its stake by offering fresh shares as part of its disinvestment programme.

The corporation, which reported a 60% profit rise in the first quarter, seeks to raise funds to add 14 ships to its fleet this year.

The government aims to raise about INR400bn ($8.6bn) in 2010 by selling stakes in companies including Coal India and Steel Authority of India.

India owns an 80% stake in SCI and planned to sell a 15% stake in the company in 2005.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology