Core group of secretaries to meet next week on disinvestment of Pawan Hans

The centre is expediting sale of government-owned helicopter operator, Pawan Hans. Sources tell Business Today that the core group of secretaries on disinvestment will be meeting next week to review the bids received so far for Pawan Hans.

“We are in the final stage of its disinvestment process, and expecting good response from the interested parties,” said a source in the know.

As per sources, the government has received three financial bids for sale of its stake in Pawan Hans. “We have received good interest and transaction advisor is evaluating options,” the source added.

SBI Capital Markets is the transaction advisor for the disinvestment of Pawan Hans.

The central government plans to divest 51 per cent of its stake that it has in Pawan Hans. ONGC has 49 per cent.

After various attempts, the government invited bids for the PSU in February 2021 . The centre also sweetened the deal by lowering the net worth from Rs 350 crore to Rs 300 crore. However, the process has seen a minor delay due to the outbreak of Covid-19 in India.

Also read: Pawan Hans privatisation: Process now moves to concluding stage, says DIPAM secy

Also read: Pawan Hans to lease six Sikorsky S-76D helicopters