INSUBCONTINENT EXCLUSIVE:
The government owns 51 per cent equity of Pawan Hans, while ONGC holds 49 per centNew Delhi: The Government Of India on Wednesday said that
it has received bids for the divestment of chopper services company Pawan Hans Ltd (PHL)
According to Civil Aviation Secretary R.N
Choubey, at present the transaction advisor "is in the process of examining each of those bids, once the bids are found to be eligible" and
after that the invitation for participation in RPF will be indicated.On April 13, the Central government had invited 'Expression of
Interest' to divest its 51 per cent stake in chopper services company.The Preliminary Information Memorandum (PIM) inviting the EoI for the
strategic divestment was issued on April 13, only days after the government had withdrawn an earlier PIM for the proposed divestment.The
government owns 51 per cent equity of the company, while ONGC holds the rest 49 per cent stake.PHL was set up as a public sector undertaking
under the administrative control of the Ministry of Civil Aviation to primarily provide helicopter services for the exploration activities
of ONGC and to the northeast region.(This story has not been edited by TheIndianSubcontinent staff and is auto-generated from a syndicated
