The Central Government on Thursday decided to divest its entire 95 per cent stake in Scooters India Ltd (SIL), which primarily manufactures three-wheelers, with an aim to revive the company that has been incurring losses since 2002-03.“Union Cabinet decided to revive SIL. It is being proposed to revive the company through induction of strategic partner by offloading the entire government equity of around 95 per cent,” Information and Broadcasting Minister Ambika Soni told reporters after the meeting. The balance 5 per cent equity will remain with banks, financial institutions, corporate bodies and others.
Showing posts with label Share Autos. Show all posts
Showing posts with label Share Autos. Show all posts
Thursday, May 19, 2011
Centre to sell entire stake in Scooters India
The Central Government on Thursday decided to divest its entire 95 per cent stake in Scooters India Ltd (SIL), which primarily manufactures three-wheelers, with an aim to revive the company that has been incurring losses since 2002-03.“Union Cabinet decided to revive SIL. It is being proposed to revive the company through induction of strategic partner by offloading the entire government equity of around 95 per cent,” Information and Broadcasting Minister Ambika Soni told reporters after the meeting. The balance 5 per cent equity will remain with banks, financial institutions, corporate bodies and others. 
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