Mumbai, Oct 08: The government is planning to come up with an Initial Public Offering (IPO) to divest 20 per cent of its stake in Dredging Corporation of India (DCI) by January and raise Rs 250 crore in the process. "We will come out with an IPO in next 3-4 months to offload 20 per cent of the 98.56 per cent government holding in DCI," Union Minister of State for Shipping Dilip Gandhi told reporters here.

He said the timing of the IPO would be crucial and the Government hopes to mop up about Rs 250 crore given the current bullish run in the market.
Kotak Mahindra and Enam Consulants Ltd have been shortlisted as financial advisers for the process, he said.
Union Shipping Secretary D T Joseph said the government was looking into the terms and conditions of the Vallarpadam trans-shipment container terminal project, off Kochi as no bids were received before the deadline of September 12. Bureau Report