Govt invites bid to sell entire 51 per cent stake in Pawan Hans

Presently, Pawanhans Ltd is under the administrative control of the civil aviation ministry and the remaining 49 per cent stake is held by oil behemoth ONGC.

Published: 13th October 2017 10:37 PM  |   Last Updated: 13th October 2017 10:37 PM   |  A+A-

By PTI

NEW DELHI: The Central government on Friday initiated the process of disinvestment in the government’s helicopter service operator Pawan Hans Ltd by inviting private companies, including foreign ones, to buy out its entire 51 per cent stake along with management control in the PSU.  The Ministry of Civil Aviation (MoCA) publicised the invite for ‘global invitation for expression of interest (EOI)’ from prospective buyers and asked them to submit it by December 8. Presently, Pawanhans Ltd is under the administrative control of the civil aviation ministry and the remaining 49 per cent stake is held by oil behemoth ONGC.

The global invitation for EOIs stated, “The government proposes to disinvest its entire equity shareholding of 51 per cent in Pawan Hans Ltd by way of strategic disinvestment to investors, along with transfer Of management control.” The Department of Investment and Public Asset Management (DIPAM) has already lined up a host of PSUs for strategic disinvestment.

The EOIs for Pawan Hans comes a day after bids for similar EOIs were sought for four PSUs on Thursday. Those four PSUs which are to be sold to private players are Hospital Service Consultancy Corporation (HSCC), Engineering Projects (India) Ltd (EPI), National Projects Construction Corporation (NPCC) and Bridge and Roof Co.

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