Indian government plans to sell a 5% stake in state-run Dredging Corporation of India Ltd (DCI), the country’s largest dredging company.
This move is part of the central government’s efforts to raise revenue as it scrambles to meet part of a near $10 billion share sale target by 31 March, when the current fiscal year ends, according to Reuters.
The government also plans to sell a 5% stake in state-run Power Finance Corporation Ltd next week and the state-run manganese miner MOIL Ltd could be the next in line with a 10% stake sale.
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Dredging Today Staff