New Delhi :  The government will sell 5 per cent of its stake in the country’s largest dredging company, Dredging Corporation of India (DCI), a move that will fetch up to Rs 57 crore to its kitty, reports PTI.

The government will sell up to 14 lakh shares of face value of Rs 10 each, representing 5 per cent of the total paid up equity share capital of the company, through Offer for Sale, DCI said in a filing to the BSE.

“The offer shall take place during trading hours on a separate window of the Stock Exchanges and shall commence on August 21, 2015 at 9:15 am and shall close on the same date at 3:30 pm,” the filing said. At Wednesday’s closing price of Rs 406.60, the stake sale will fetch up to Rs 57 crore to the government.

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