No takers for Pawan Hans; govt's divestment plan fails for second time

Experts say the Centre should look for an IPO to obtain value from the firm

The government’s ambitious disinvestment plan has faced yet another setback as public sector aviation firm Pawan Hans failed to attract any bidder.
 
The last date for submitting a financial bid for the helicopter company expired last month and the government has been unable to extend the date due to the model code of conduct rules during the elections.
 
“Although there were a couple of companies which had expressed interest, no one submitted a binding financial bid,” a government official aware of the development said.
 
This is the second time the sale process has failed after an attempt