CONCOR 5% stake sale process initiated

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CONCOR
The government has initiated the process of 5 per cent stake sale in Container Corporation of India (CONCOR), which could fetch over Rs. 1,300 crore to the exchequer at current stock price of Rs. 1,414.90
“The GOI intends to disinvest 5 per cent paid up equity capital of CONCOR…through OFS (offer for sale) of shares by promoters through the stock exchanges method as per SEBI rules,” DoD said while inviting merchant bankers to bid for managing the stake sale.

The merchant bankers have to submit their bids by December 2, following which the DoD would select up to three bankers for managing the disinvestment.

Government holds 61.80 per cent stake in the logistics company which is under the administrative control of the Railways Ministry.

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