Government to Disinvest 51% Stake in Pawan Hans Ltd
The government has decided to sell its entire 51% stake in Pawan Hans Ltd to a strategic buyer and transfer the management control of the helicopter service operator. For this, it has sought applications from reputed consulting firm, investment bankers, merchant bankers, financial institutions and banks
on January 11, 2017 to provide advisory services and manage the strategic disinvestment process.
The company is a joint venture where Government held 51% while state-owned ONGC Ltd. holds 49% stake.
The government has budgeted for Rs 56,500 crore of revenue from disinvestment for 2016-17, including Rs 20,500 crore from strategic sales.
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