Government sells 51 per cent stake in Pawan Hans to Star9 Mobility
NEW DELHI: In the first strategic sale of a public sector unit in 2022-23, the government has sold its entire 51 per cent stake in Pawan Hans for Rs 211.14 crore to Star9 Mobility, the Ministry of Finance said in a statement on Friday.
Star9 Mobility; a consortium of Big Charter, Maharaja Aviation and Almas Global Opportunity Fund SPC; emerged as the highest bidder among the three who submitted their financial bids. Pawan Hans, a joint venture between the Central government and ONGC, provides helicopter and aero mobility services. While the government held 51 per cent stake in the company, ONGC held a balance 49 per cent.
