Govt's attempt to sell entire 51% stake in Pawan Hans finds no takers

Govt was forced to cancel the stake sale after one of the two shortlisted bidders pulled out of the race citing 'lack of interest'

The government’s attempt to sell its entire 51 per cent stake in helicopter company Pawan Hans has received a setback, with the deal failing to attract enough bidders. Now, a rebidding is on the cards.

According to sources aware of the development, the government, which has set an ambitious disinvestment target of Rs 800 billion for 2018-19, was forced to cancel the stake sale after one of the two shortlisted bidders pulled out of the race citing “lack of interest”. The two finalised bidders were Indian helicopter major Global Vectra Helicorp and US-based Continental Helicopters.

“According to the guidelines of the Central