Government invites fresh bids to sell Pawan Hans
5 years, 5 months ago

Government invites fresh bids to sell Pawan Hans

Live Mint  

Mumbai: After previous unsuccessful attempts to sell the country's biggest public sector helicopter operator, Pawan Hans Ltd, the government on Thursday invited fresh bids for offloading its stake in the company. The government holds 51% stake in PHL and the rest is held by Oil and Natural Gas Corporation, Mumbai, in what now ranks as South Asia's largest helicopter company. Industry players express doubts over the expectations of earning around ₹1,000 crore from the sale, pointing to PHL's loss and the ongoing huge turbulence in the country's aviation sector that has not spared even Air India. However, in case state-run ONGC is unable to sell its 49% stake for any reason, the government's stake sale would remain unaffected and the successful bidder would have to execute a shareholders' agreement with ONGC.

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History of this topic

Star9 Mobility Pvt Ltd to buy govt's 51% stake in Pawan Hans helicopter service provider for Rs 211 crore
2 years, 8 months ago

Star9 Mobility Pvt Ltd to buy govt's 51% stake in Pawan Hans helicopter service provider for Rs 211 crore

Firstpost  

New Delhi: The Finance Ministry on Friday said Star9 Mobility Pvt Ltd will buy the government’s 51 per cent stake in helicopter services provider Pawan Hans Ltd, along with the transfer of management control, for Rs 211.14 crore. “M/s Star9 Mobility Private Ltd, a consortium of M/s Big Charter Private Limited, M/s Maharaja Aviation Private Limited and M/s Almas Global …

Pawan Hans Disinvestment: JSW Steel, JSPL Bids May Be Decided Soon; Check Details
2 years, 8 months ago

Pawan Hans Disinvestment: JSW Steel, JSPL Bids May Be Decided Soon; Check Details

News 18  

The government is expected to finalise the sale of ailing helicopter operator Pawan Hans on Saturday and bids from JSW Steel and Jindal Steel & Power Ltd have been received, according to a report quoting sources. The Pawan Hans disinvestment Hans is estimated to fetch Rs 300-350 crore. The government has a disinvestment target of Rs 65,000 crore for the …

Govt Seeks EoIs for Sale of Pawan Hans Once Again, Shortlisted Bidders to be Intimated by February 17
4 years, 1 month ago

Govt Seeks EoIs for Sale of Pawan Hans Once Again, Shortlisted Bidders to be Intimated by February 17

News 18  

After repeated failed attempts to disinvest public sector helicopter service provider, Pawan Hans, the Central government has again initiated the process of its sale and has sought expressions of interest for the Mini Ratna company. Around 2,84,316 equity shares are held by the President of India, through Ministry of Civil Aviation, aggregating to 51 per cent of the total paid-up …

Government seeks bids for Pawan Hans by 22 August
5 years, 4 months ago

Government seeks bids for Pawan Hans by 22 August

Live Mint  

New Delhi: The government has initiated the second step for disinvestment of Pawan Hans Limited, inviting expression of interest from the prospective bidders to sell its stake in the helicopter PSU. After an unsuccessful attempt for sale of Pawan Hans earlier this year, the government provided indemnity to the potential buyers against contingent liability of over ₹500 crore in the …

Govt sweetens deal to attract bidders for Pawan Hans by diluting crucial terms
5 years, 5 months ago

Govt sweetens deal to attract bidders for Pawan Hans by diluting crucial terms

Live Mint  

New Delhi: Having failed to privatise Pawan Hans last fiscal, the government has significantly diluted the terms of sale pertaining to employee retrenchment, asset sale and tax liability to attract bidders this time around, sources said. According to the revised sale terms, the successful bidder would be permitted to provide voluntary retirement scheme to existing Pawan Hans employees as per …

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