New Delhi (20.12.2021): The government has received financial bids for the sale of its stake in ailing helicopter company Pawan Hans, thus moving the divestment process to the last stage. “The financial bids for Pawan Hans divestment have been received by the transaction advisor. The process now moves to a concluding stage,’ DIPAM Secretary Tuhin Kanta Pandey tweeted. The government is selling its entire 51 percent stake in Pawan Hans. State-owned Oil and Natural Gas Corporation (ONGC), which holds the remaining 49 per cent stake, has also offered its entire shareholding in the company for sale along with the government stake. In the year 2019-20, the company reported a net loss of Rs 28 crore, it was Rs 69 crore in the previous year. As on March 31, 2020, its authorized capital was at Rs 560 crore.
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Pawan Hans: Centre to sell entire 51 percent stake
By IndianMandarins - 2021-12-19 22:13:00
New Delhi (20.12.2021): The government has received financial bids for the sale of its stake in ailing helicopter company Pawan Hans, thus moving the divestment process to the last stage.
“The financial bids for Pawan Hans divestment have been received by the transaction advisor. The process now moves to a concluding stage,’ DIPAM Secretary Tuhin Kanta Pandey tweeted.
The government is selling its entire 51 percent stake in Pawan Hans. State-owned Oil and Natural Gas Corporation (ONGC), which holds the remaining 49 per cent stake, has also offered its entire shareholding in the company for sale along with the government stake.
In the year 2019-20, the company reported a net loss of Rs 28 crore, it was Rs 69 crore in the previous year. As on March 31, 2020, its authorized capital was at Rs 560 crore.
