Time table for the disinvestment of Shipping Corporation of India announced by finance ministry

2020-12-23 14:18:41 Shipping News

The Finance Ministry has invited global Expression of Interest (EoI) for strategic disinvestment of its 29,69,42,977 equity shares (63.75%) held in the Shipping Corporation of India (SCI) along with transfer of management control.

RBSA Capital Advisors LLP appointed by Govt as its Transaction Advisor (TA)

The government is thus proposing strategic disinvestment of its entire shareholding in SCI along with transfer of management control to investors. It has appointed RBSA Capital Advisors LLP as its Transaction Advisor (TA) to advise and manage the process.

The disinvestment process is being implemented through competitive bidding route. A Preliminary Information Memorandum (PIM) for inviting EoI from interested parties can be downloaded from websites of DIPAM at www.dipam.gov.in, MoPSW at www.shipmin.gov.in, SCI at www.shipindia.com, and RBSA Capital Advisors LLP at www.rbsa.in

Bidders submitting EoI by email shall also submit it in physical copy not later than 17:00 hours (India Standard Time) on 01.03.2021

Sole bidders or a consortium who meet the eligibility criteria mentioned in the PIM can submit their EoI either in electronic form via email or in physical form not later than 17:00 hours (Indian Standard Time) on 13.02.2021 (Saturday). However, bidders submitting EoI by email shall also be required to submit it in physical copy not later than 17:00 hours (India Standard Time) on 01.03.2021 (Monday), as per an official communiqué. Details are available on the websites.

SCI, a Central Public Sector Enterprise (CPSE) under the administrative control of the Union Ministry of Ports, Shipping and Waterways (MoPSW), owns and operates a majority of the Indian tonnage. Its owned fleet includes bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo-vessels, LPG/ammonia carriers and offshore supply vessels.

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