It is imp to understand that Shipping Corporation of India (SCI) valuation of non-core Assets is around ₹ 110/shares. It means investors getting Core shipping biz just for Rs 20/share
SCI non-core Assets valuation is carried out by an Independent Agency as under:-
- Free hold land in Mumbai,Delhi,Chennai,Banglore and Kolkatta Rs 4500 crores. Approx 50 acres of land only in Mumbai at Powai.
- Building at Nariman point,Mumbai Rs 800 crores.
- Total 150 flats and buildings in above mentioned cities valued at Rs 450 crores.
- The agency has mentioned this valuation is approx 25 to 30 % less than the prevailing market rates.
- Approx value of a share comes at Rs 110 for the non- core demerged entity.
- Land parcel of Powai alone should be more than 2500 cr. Going rate Rs 80-100 cr/acre
- 510 Flats~Although we don't have size and location detail of these flats but still value of same has to be 600-1000 cr because decades back PSUs built Large flats and in prime locations as those days land prices were peanuts.
Verdict : Disinvestment can see it touching price of 150/175/200 in medium to long term.
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