SCI Divestment: Govt may invite bids by end of May; stock zooms 10% intraday

The government is likely to expedite the disinvestment process of the Shipping Corporation of India (SCI) from next month, ET Now reported on Wednesday, citing sources. Under the divestment process, the government will list SCI’s land asset company and the examination process is already underway, the report said.

The financial bids are likely to be invited by the end of May/June and the government is looking at completing the divestment process by the end of this year.

It will be a priority for the government post the BEML’s listing of non-core assets.


SCI shares jumped over nearly 10% intraday following the ET Now report. The stock settled 5.50% higher at Rs 95.19 on BSE.

SCI is the largest Indian shipping Company and has business interests in various segments of the shipping trade. SCI’s owned fleet includes Bulk carriers, Crude oil tankers, Product tankers, Container vessels, Passenger-cum-Cargo vessels, LPG and Offshore Supply Vessels.

Meanwhile, the government on Wednesday listed BEML Land Assets. Its shares fell within minutes of getting listed.

The listing of BEML Land Assets is part of the company's hiving-off plans to separate its non-core and surplus assets into a new wholly-owned subsidiary. This is also a part of the government's strategic disinvestment plans.

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