The government has received an undisclosed number of financial bids for sale of its stake in ailing helicopter operator Pawan Hans, moving the divestment process to the last stage. “The financial bids for Pawan Hans disinvestment have been received by the transaction advisor. The process now moves to a concluding stage,” DIPAM Secretary Tuhin Kanta Pandey tweeted.
He, however, did not disclose the number of bidders.
The government is selling its entire 51 per cent stake in Pawan Hans. State-owned Oil and Natural Gas Corporation (ONGC NSE -3.01 %), which holds the remaining 49 per cent, has also offered its entire shareholding in the company for sale along with the government stake.
