Govt Approves Strategic Disinvestment Of 100% GOI Shares In Dredging Corporation
The Government had accorded approval for Strategic Disinvestment of 100% GOI shares in DCIL in favour of a consortium of 4 ports, namely, Visakhapatnam Port Trust, Paradip Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust (formerly known as Knadla Port Trust). The share purchase agreement was executed between GOI and the four ports on 8.3.2019. With this, the 73.47% holding of GOI in DCI has been transferred to the four ports as under:-
|Name of the port||Vishakapatnam port trust||Deendayal port trust||Jawaharlal port trust||Paradip port trust|
|No. of shares||5451710||5040101||5040101||5040101|
|% of paid-up share capital||19.47 %||18 %||18 %||18 %|
The Government has mobilized a total amount of Rs. 1049 Cr. By this strategic sale.
With this transfer of shares, the management and control of the company has been also transferred to the four Ports.