Pawan Hans

SIDBI forays into helicopter financing in India, signs MoU with Airbus Helicopters

May 20, 2024, 02:22 PM IST

Under the MoU, both Airbus Helicopters and SIDBI will identify potential civil helicopter operators in India interested in opting for financing while purchasing Airbus helicopters. Airbus will provide the technical and helicopter industry knowledge to SIDBI.

Budget 2024: PSU stake sale likely post Lok Sabha elections, expect a moderate divestment target for FY25

Feb 01, 2024, 09:11 AM IST

Brokerages are expecting a modest disinvestment target Rs 40,000 crore, which would be 0.1 per cent of GDP, compared with "the overly ambitious target" for this year.

Pawan Hans Sale Crashes Yet Again, Fourth Time Unlucky For PSU Service

Jul 04, 2023, 05:43 PM IST

The government has canceled the process of strategic disinvestment of Pawan Hans… disqualifying a 211-crore-rupee big by a consortium of Star9 Mobility and Almas Global Opportunity Fund. Star9 Mobility faces a probe by NCLT. Catch Karishma Asoodani for more insights.

Govt disqualifies highest bidder, annuls EOI process for sale of Pawan Hans

Jul 03, 2023, 03:08 PM IST

The government had, on April 29, 2022, approved the highest bidder Star9 Mobility, a consortium of Maharaja Aviation, Big Charter and Almas Global Opportunity Fund as the successful bidder for sale of 100 per cent equity shareholding of the government in Pawan Hans.

Another PSU Off The Government's Disinvestment Pipeline

Jun 22, 2023, 06:54 PM IST

The government has decided to scrap the proposed sale of 51% stake in helicopter service provider Pawan Hans. A senior government official told Business Today TV that the inter-ministerial group looking into the sale will quash the sale process shortly. "We are unlikely to look at divesting Pawan Hans anytime soon," the official added. The file for closing the process will be put up for approval by the group next week. Despite a competitive bidding process, allegations against the bidder had disrupted the transparency of the process.

Pawan Hans divestment fails to take-off, Centre moves to scrap sale

Jun 21, 2023, 04:41 PM IST

This is the fourth time since 2016 that the government has tried to sell Pawan Hans. The Cabinet Committee on Economic Affairs approved the strategic disinvestment of Pawan Hans in October 2016. As per the new public sector enterprises policy, the Centre can even look at closing down the company, should attempts to divest it fail.

Govt may target Rs 35,000 cr from disinvestment in FY24

Nov 17, 2022, 03:53 PM IST

As per Finance Ministry sources, the disinvestment target of Rs 65,000 crore for the current year is unlikely to be met. Because of market conditions, the proposed sale of BPCL did not materialise, the realisation from the Life Insurance Corporation of India (LIC) was much lower than expected and proceeds of the IDBI Bank sale are expected only by June 2023.

Dipam Secretary Tuhin Kanta Pandey on Disinvestment and its Challenges

Jun 29, 2022, 03:22 PM IST

DIPAM Secretary Tuhin Kanta Pandey holds forth on privatisation, disinvestment and the challenges

EXCLUSIVE: EOIs for CONCOR, IDBI Bank privatisation likely this month, says DIPAM Secy Tuhin Kanta Pandey

May 31, 2022, 04:49 PM IST

Talking exclusively to BT, DIPAM secretary Tuhin Kanta Pandey has said that the government is moving along with the privatisation plans for CONCOR and IDBI and that expressions of interest will be invited this month.

Pawan Hans sale: Legal eagles warn of winning bid debarment over guideline breach

May 18, 2022, 06:39 PM IST

Even as Almas Global expressed surprise at the NCLT ruling, legal experts say the development may have its fallout in the Star9 Consortium’s winning bid for Pawan Hans being disqualified.

Pawan Hans sale on hold over NCLT order against winning consortium member: Govt

May 16, 2022, 07:19 PM IST

Last month, the government selected M/s Star9 Mobility Pvt Ltd, a consortium of M/s Big Charter Private Limited, M/s Maharaja Aviation Private Limited and M/s Almas Global Opportunity Fund SPC, as the winning bidder for Pawan Hans.