The Department of Investment and Public Asset Management (DIPAM) is set to extend to March 1 the deadline for filing expressions of interest on privatisation of Shipping Corporation of India Ltd (SCI).
On December 22, DIPAM, the government’s asset sale department, invited expressions of interest to privatise Shipping Corporation by selling the government’s 63.75 per cent stake to a strategic buyer.
DIPAM had set a date for potential bidders to file their interest. The move to extend the deadline follows requests from some of the potential bidders.
Government officials briefed on the move said the deadline is also being pushed back due to a delay by the SCI management in hiring a consultant for undertaking de-merger/disposal of its non-core assets (real estate) ahead of the sale and to carry out corporate restructuring for better operational performance of the navratna company.
The corporate restructuring being planned involves de-merging whole or part of a division of SCI…
