Shipping Corp surges 19% as govt gets multiple bids for privatisation

DIPAM, in December, had invited EoI for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India

Shares of privatisation bound Shipping Corporation of India (SCI) surged over 19 per cent in intra-day trade on Tuesday to hit a fresh 52-week high of Rs 123.55 on the BSE after Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the government has received multiple bids for the company.

DIPAM, in December, had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India, along with the transfer of management. The last date for submitting the bids was February 13, which was later extended