Govt to divest 5% in Container Corp

Base price set at Rs 1,195, will help govt mop up Rs 1,165 cr; 5% addl discount for retail investors

The government will divest 5 per cent stake in Container Corporation of India (Concor) on Wednesday through the offer for sale (OFS) route.

The centre has set the base price for the stake sale at Rs 1,195, which will help the government mop up around Rs 1,165 crore.

Shares of Concor on Tuesday closed at Rs 1226.65 on the BSE-around 3 per cent higher than the floor price.

Retail investors are being offered a 5 per cent additional discount. Retail bidding was take place on Thursday.

Concor's OFS follows Rs 5,000-crore worth of divestment in NTPC late February. So far this fiscal, the government has raised around Rs 18,300 crore by divesting stake in six public sector undertakings.