India reportedly could make financial bids for the sale of the Shipping Corporation of India (SCI) in September, following the divestiture of non-core assets.

This came after SCI's board of directors approved a revised demerger plan that would transfer SCI's non-core assets to Shipping Corporation of India Land and Assets, including Shipping House, Mumbai and MTI (Maritime Training Institute), Powai.

The non-core assets were valued at Rs. 23.92 billion ($309 million) as of March 31. SCI is one of India's largest shipping companies, has significant interests in various segments of the shipping industry and operates approximately one third of India's tonnage, according to its website.