SCI sale: Govt may invite bids from four companies
Mint Mumbai|April 15, 2023
Vedanta Resources, Safe Sea Services, JM Baxi and Megha Engineering are among firms that are likely to be asked to place bids for the strategic disinvestment of state-run Shipping Corp. of India (SCI) by next month, officials aware of the development said.
Gulveen Aulakh
SCI sale: Govt may invite bids from four companies

"The process is moving swiftly. Financial bids should be called for by next month; there are many parties that are interested," a senior official said, asking not to be named.

The government is expecting an equity value of about ₹6,000 crore from the strategic sale, which will see management control transferred to the winning bidder.

Vedanta Resources, Safe Sea Services, JM Baxi and Megha Engineering didn't respond to queries as of Friday evening. Queries to the finance ministry also did not elicit a response.

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