Govt gets financial bids for Pawan Hans stake

After Air India, the Government has received financial bids for disinvestment of ailing helicopter operator Pawan Hans, which could make it the second public sector undertaking to be privatised in 2022. Set up in 1985, Pawan Hans has a fleet of over 40 helicopters and over 900 employees, less than half of them on permanent roles.

“The financial bids for Pawan Hans disinvestment have been received by the transaction advisor. The process now moves to a concluding stage,” Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), 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), which holds the remaining 49 per cent,