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

Spotting and nurturing young talent, helping them bloom

Things don’t turn up in this world, as former US president James A. Garfield once said, until someone turns them up. This is all the more so, when one considers the hidden gems that are waiting to be discovered. The world is full of talented young people who need just a nudge to provide that spark th

Khadi sets new record for single-day sale at Delhi shop

On Gandhi Jayanti this year, the Khadi India outlet in Connaught Place in the capital once again set a new record of khadi sales in a single day. In a single day, the Khadi India showroom at Connaught Place marked sale of Rs. 1.34 crore and broke its own previous record of Rs. 1.01 crore se

Mumbai Metro: Delay on Tracks

In Mumbai, the ninth most populous and congested city on the planet, high rentals compel citizens to spend five hours on an average travelling to work every day. Mumbai’s Metro Rail System extending towards Mumbai Metropolitan Region (MMR) will not only provide East-West connectivity

Sustainable tourism is responsible tourism

Tourism is a huge part of global culture nowadays and is also one of the biggest sources of revenue across the world. According to the World Travel and Tourism Council (WTTC), in 2019, the tourism industry contributed $8.9 trillion or 10.3% to the global GDP. The industry witnessed a massive lull in 2020 d

Fernandes: A Life as Legacy

The Life and Times of George Fernandes By Rahul Ramagundam Penguin/New India Foundation, 624 pages, Rs 799 Amer

India set to enter 5G era

After years of intense preparation, India is about to take the next step in information and communication technology. Prime Minister Narendra Modi will launch 5G services in India on October 1 and also inaugurate the 6th Edition of India Mobile Congress 2022 to be held till October 4, at Pragati Maidan, Ne

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter