Shipping Corporation of India Land & Assets Ltd Share Price

(SCILAL)

Shipping Corporation of India Land and Assets Limited SCILAL a Schedule C Public Sector Enterprise of Government of India was incorporated on November 10 2021 as a Wholly owned Subsidiary of Shipping Corporation of India Limited SCI. The Company has been incorporated with the object of holding and disposing the Noncore Assets of SCI distinct from the disinvestment transaction initiated by the Government of India.The demerger order transferring SCIs noncore assets into SCILAL was issued by MCA on 22nd February 2023. Further the Ministry of Corporate Affairs vide its order dated 22nd February 2023 approved the Scheme of Arrangement for Demerger of NonCore Assets of Shipping Corporation of India Limited SCI into the Company and the Scheme of Demerger became effective from March 14 2023. Consequent upon the Demerger all NonCore assets including the RealEstate Properties of Shipping Corporation of India Limited got demerged and transferred into the Company. Thereafter the Company had issued and allotted 465799010 equity shares at Rs 10/ each on 06.04.2023 to the eligible Shareholders of Shipping Corporation of India Limited and the said shares got listed on the BSE Limited BSE and National Stock Exchange of India Limited NSE on 25.05.2023..

Listing date: 19 Mar, 2024