Govt invites bids to sell its 51 percent stake in Pawan Hans Ltd

Cabinet committee on economic affairs had earlier approved disinvestment of the government’s stake in Pawan Hans Ltd

GN Bureau | January 13, 2017


#PSU   #disinvestment   #Pawan Hans Ltd  
 
The department of investment and public asset management under the finance ministry has invited bids to appoint merchant bankers for selling the government’s entire 51 percent stake in Pawan Hans Helicopters Ltd—a miniratna undertaking, through strategic disinvestment.
A proposal ‘engagement of legal advisers for strategic disinvestment’ of Pawan Hans Ltd is recently uploaded by the department of investment and public asset management on its website.
 
According to reports, the cabinet committee on economic affairs had earlier approved disinvestment of the government’s stake in the state-controlled Pawan Hans Ltd. 
 
“The Government of India (GoI) has ‘in-principle’ decided to disinvestment 100 per cent of its shareholding in Pawan Hans Ltd. through strategic sale with transfer of management control”, the document states.
 
Fifty one percent equity stake in Pawan Hans is owned by the government while Oil and Natural Gas Corporation owns the remaining 49 percent.
 
The company’s authorised capital is Rs 250 crore, and paid up share capital is Rs 245.616 crore comprising of Rs 125.266 crores in the name of president of India (51%) and Rs 120.35 crore of ONGC Ltd. (49%) respectively. The company has 451 regular employees and 337 contractual staff.
 

Comments

 

Other News

BHEL commissions supercritical thermal power plant in UP

With the commissioning of the third unit of the Prayagraj Super Thermal Power Project (PSTPP), Bharat Heavy Electricals Limited (BHEL) has successfully executed the 1,980 MW coal-based supercritical thermal power project in Uttar Pradesh.   The first two units of the project

A corporation to be set up for Digital India

The ministry of electronics and information technology (MEITY) will set up a new body, Digital India Corporation (DIC), to execute prime minister’s ambitious Digital India programme. The corporation will subsume some of the existing agencies within the ministry including the National e-Gove

India, Japan to build Asia-Africa corridor to checkmate OBOR

While India and China are pitted against each other in South Asia and the Southeast Asian region, and the former’s refusal to participate in Beijing held summit on One Belt One Road (OBOR) initiative was a low point in their bilateral ties, New Delhi is now preparing an initiative that will r

Pragati Maidan to be turned into exhibition-cum-convention centre

The existing Pragati Maidan complex is set to get a new face with its redevelopment into a world class state-of-the-art integrated exhibition-cum-convention centre (IECC).   CMD, India Trade Promotion Organisation (ITPO), L C Goyal and CMD, NBCC (India) Limited, Anoop Kumar M

GAIL clocks 57% rise in profit after tax in 2016-17 FY

GAIL (India) Limited has registered 57 percent rise in profit after tax (PAT) for the 2016-17 fiscal with the PAT increasing to Rs 3,503 crore from Rs 2,226 crore in the last fiscal.   The rise in profit was boosted mainly by a turnaround in the company’s petrochemical

The case of former coal secy and the anti-corruption law

  A senior bureaucrat, apparently much respected among the administrative circles, faces two years in jail. His crime: a decision that may have come from the political leadership.   HC Gupta, a former coal secretary, is among the three bureaucrats convicted b



Video

प्रभुनाथ सिंह को हत्याकांड में उम्रकैद की सजा

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter