Race for a flying deal: Govt to bundle ONGC stake for selling Pawan Hans

For the 51% stake on offer, the government had earlier set a reserve price of about Rs 3 bn

After a lukewarm response from the industry to the sale of its 51 per cent stake in Pawan Hans, the Department of Disinvestment and Public Asset Management (Dipam) is planning to put the entire helicopter company on sale by offering the remaining 49 per cent stake of Oil and Natural Gas Corporation (ONGC) as well. 

Dipam has already floated the bids for stake sale in Pawan Hans twice in the last 10 months. The first bidding floated on October 13 last year was withdrawn on April 6. This was after the two bidders — Indian helicopter major Global Vectra Helicorp