Pawan Hans Privatisation

Bidders will have to share the details of legal proceedings against them, if any, until the completion of sale transactions

The government's decision is based on the recommendation of its transaction adviser

Tuhin Pandey says LIC investors should be patient and look at the insurer's long-term prospects

The government has decided to sell 51 per cent stake in Pawan Hans to Star9 Mobility Private Ltd for Rs 211.14 crore

The government has received an undisclosed number of financial bids for sale of its stake in ailing helicopter operator Pawan Hans, moving the divestment process to the last stage. "The financial bids for Pawan Hans disinvestment have been received by the transaction advisor. The process now moves to a concluding stage, DIPAM Secretary Tuhin Kanta Pandey tweeted. He, however, did not disclose the number of bidders. The government is selling its entire 51 per cent stake in Pawan Hans. State-owned Oil and Natural Gas Corporation (ONGC), which holds the remaining 49 per cent, has also offered its entire shareholding in the company for sale along with the government stake. Set up in 1985, Pawan Hans has a fleet of over 40 helicopters and over 900 employees, less than half of them on permanent roles. It provides helicopter services for the exploration activities of ONGC and to India's northeast. For 2019-20, the company reported a net loss of Rs 28 crore, lower than Rs 69 crore in the

Till July 2020, the company had 686 employees - 363 regular and 323 contractual

The government has received multiple preliminary bids for strategic sale of Pawan Hans, DIPAM Secretary Tuhin Kanta Pandey said on Thursday.

FM said in her budget speech that the disinvestment of Air India and Pawan Hans would be completed in 2021-22

Experts say finding a buyer for the company will be a challenge even as it holds value in the oil and gas sector

The revised terms of sale have reduced the time period for stripping of assets of Pawan Hans by the buyer to two years, from three years specified earlier

The government issues PIM before strategic stake sale to assist the prospective bidders with information about the company to be divested

The Miniratna PSU is under the administrative control of the civil aviation ministry; the remaining 49% stake is held by oil behemoth ONGC