<p>The government on Tuesday invited expressions of interest for strategic disinvestment of its 63.75 per cent stake in Shipping Corp of India along with the transfer of management control.</p>.<p>The Department of Investment and Public Asset Management (DIPAM) has issued Preliminary Information Memorandum (PIM) inviting Expressions of Interest (EoI) from potential buyers by February 13, 2021.</p>.<p>Shares of Shipping Corp were trading at Rs 86.30, up 4.54 per cent over its previous close on the BSE.</p>.<p>At the current market price, the government's stake sale in Shipping Corp is valued at about Rs 2,500 crore.</p>.<p>The government has appointed RBSA Capital Advisors LLP as its transaction advisor to manage the disinvestment process.</p>.<p>The Cabinet Committee on Economic Affairs in November last year gave in-principle approval for the strategic divestment of Shipping Corp. However, the plans were delayed due to the pandemic.</p>.<p>The 2020-21 Budget has set a record divestment target of Rs 2.1 lakh crore.</p>.<p>The government has so far raised Rs 12,380 crore through minority stake sale in Central Public Sector Enterprises (CPSEs) and share buybacks this fiscal year.</p>.<p>Strategic sale process of Bharat Petroleum Corporation Limited (BPCL) and Air India is ongoing and both the companies have received "multiple" EoI from potential buyers</p>
<p>The government on Tuesday invited expressions of interest for strategic disinvestment of its 63.75 per cent stake in Shipping Corp of India along with the transfer of management control.</p>.<p>The Department of Investment and Public Asset Management (DIPAM) has issued Preliminary Information Memorandum (PIM) inviting Expressions of Interest (EoI) from potential buyers by February 13, 2021.</p>.<p>Shares of Shipping Corp were trading at Rs 86.30, up 4.54 per cent over its previous close on the BSE.</p>.<p>At the current market price, the government's stake sale in Shipping Corp is valued at about Rs 2,500 crore.</p>.<p>The government has appointed RBSA Capital Advisors LLP as its transaction advisor to manage the disinvestment process.</p>.<p>The Cabinet Committee on Economic Affairs in November last year gave in-principle approval for the strategic divestment of Shipping Corp. However, the plans were delayed due to the pandemic.</p>.<p>The 2020-21 Budget has set a record divestment target of Rs 2.1 lakh crore.</p>.<p>The government has so far raised Rs 12,380 crore through minority stake sale in Central Public Sector Enterprises (CPSEs) and share buybacks this fiscal year.</p>.<p>Strategic sale process of Bharat Petroleum Corporation Limited (BPCL) and Air India is ongoing and both the companies have received "multiple" EoI from potential buyers</p>