Shipping Corporation of India- FPO

India’s biggest shipping firm SCI (Shipping Corporation of India ) , proposes in order to go for a FPO . The Government intends to further divest an unspecified share in the company.

The firm, in a notice for the stock exchanges, mentioned its board will meet on August 11 to determine on the 2 plans — follow-on public offer and the Government offer for sale.

Government may possibly divest 10-15 %. With the firm also planning a follow-on offer, the government share will decrease further  -(ipo news)

The Government keeps a 80.12percent stake in SCI. DII hold 13.04 percent and FIIs hold 2.12 percent.

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