Government To Divest 5% Stake In Concor

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

Concor’s OFS follows Rs 5,000-crore worth of divestment in NTPC late February. So far this fiscal, the government has risen around Rs 18,300 crore by divesting stake in six public sector undertakings. Retail investors are being offered a 5 percent additional discount. Retail bidding will take place on 9th of March.
Extra Info:
  • Container Corporation of India Ltd. (CONCOR),is a Navratna Public sector undertaking under the Indian Ministry of Railways. 
  • Incorporated in March 1988 under the Companies Act, CONCOR commenced operations in November 1989 taking over an existing network of seven inland container depots (ICDs) from Indian Railways. 

So lets do:

  • Who is the chairman of Container Corporation of India Ltd. (CONCOR)?
  • Who is the Railway minister of India?

Source – financialexpress


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