About Shipping Corporation of India Land & Assets Ltd
Shipping Corporation of India Land and Assets Limited (SCILAL) is a Schedule C' Public Sector Enterprise formed on November 10, 2021, as a wholly-owned subsidiary of Shipping Corporation of India Limited (SCI). The company was established to manage and dispose of SCI's non-core assets, separate from the government's disinvestment plan. Following a demerger order from the Ministry of Corporate Affairs on February 22, 2023, SCILAL acquired all non-core assets, including real estate properties, from SCI. The demerger became effective on March 14, 2023.
On April 6, 2023, SCILAL issued 465,799,010 equity shares at Rs 10 each to SCI shareholders. These shares were subsequently listed on the BSE Limited and National Stock Exchange of India Limited on May 25, 2023. SCILAL focuses on managing and monetizing SCI's non-core assets, providing a distinct investment opportunity in the real estate and asset management sector.
