ITDC, STC stake sale on cards

ITDC, STC stake sale on cards

The Finance Ministry has moved a Cabinet note for disinvestment in State Trading Corporation (STC) and ITDC to make the PSUs compliant with minimum public shareholding norms of Sebi.

The disinvestment department has sought Cabinet nod to offload 5 per cent stake in India Tourism Development Corporation (ITDC) and 1.02 per cent in STC through the Offer For Sale (OFS) route, a Finance Ministry official said. 

The government currently holds 92.11 per cent stake in ITDC and 91.02 per cent stake in STC.

At the end of 2012-13 fiscal, the paid up capital of ITDC was Rs 86 crore and that of STC,  Rs 60 crore. 

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