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

India gets the first hydrogen train

Prime minister Narendra Modi on Friday laid the foundation stone and dedicated to the nation various development projects worth around ₹14,700 crore in Jind, Haryana.   The PM positioned the city as a shining reflection of the good governance model. Emphasizing that the entire Haryana

Climate change is stealing sleep

Climate change has at least doubled the temperature-related sleep loss across 1,338 major cities worldwide over the past five decades, highlighting an emerging but often overlooked public health consequence of rising global temperatures. A new study by Climate Central estimates that between 2020 and

Cabinet approves Mobile Phone Manufacturing Scheme

The union cabinet chaired by PM Narendra Modi has approved the Mobile Phone Manufacturing Scheme (MPMS) with a budgetary outlay of Rs 62,500 crore. It aims to further scale up the production, deepen domestic value addition, strengthen supply chain resilience, enhance global competitiveness. It

Building infrastructure is only half the job

Recent stories of stolen railway wires, disappearing communication towers and missing public infrastructure are often treated as bizarre law-and-order failures of India. Yet they raise a more fundamental question. Why does the State often discover the disappearance of a public asset only after it has alrea

New Delhi’s Indo-Pacific strategy enters a new phase

India appears to be investing fresh dynamism in its Indo-Pacific strategy. At the time when the US, under president Donald Trump, has adopted a conciliatory approach towards China and has changed the name of America’s Indo-Pacific Command to just Pacific Command, India has quietly moved towards con

CAG flags major fiscal lapses in Maharashtra

Maharashtra`s fiscal management has come under sharp scrutiny after the Comptroller and Auditor General (CAG) of India, in its State Finances Audit Report for 2024-25, flagged significant budgetary inefficiencies, accounting irregularities, understatement of key fiscal indicators and widespread governanc

Upcoming Conferences





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter