The government has received an undisclosed number of financial bids for sale of its stake in Pawan Hans, moving the disinvestment process of the ailing helicopter operator to the last stage.
Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), tweeted, “The financial bids for Pawan Hans disinvestment have been received by the transaction advisor. The process now moves to a concluding stage.” He, however, did not disclose the number of bidders.
The Centre is selling its entire 51 per cent stake in Pawan Hans. State-run Oil and Natural Gas Corporation (ONGC), which owns the remaining 49 per cent, too has offered its complete shareholding in the company for sale.
