Shares of Shipping Corporation of India leapt today after a government think-tank suggested another 26% of the nation’s flag carrier should be sold to investors.
NITI Aayog, or the National Institution for Transforming India, made the proposal. The institution is a government of India policy think-tank established by the Narendra Modi government to replace the Planning Commission.
The sale could raise as much as $150m for the nation’s coffers, the think-tank claimed.
At present the government holds 63.75% in SCI.
The proposal will now head to the Cabinet Committee on Economic Affairs.