Govt reassures Pawan Hans bidders, says no new helicopters will be acquired till divestment
In order to speed up the process of divesting its stake in Pawan Hans, the government has assured potential bidders that there will be no acquisition of helicopters till the divestment is completed.
The potential bidders have expressed concern that if more helicopters are acquired, valuation of the company might change during the divestment process.
The government also plans to lease helicopters to meet business requirements. The government has put up the notice in public domain that it aims to complete Pawan Hans’ divestment by end of FY18. Private players can put their bids for the company up to December 8.
Currently, Pawan Hans has 43 helicopters in its fleet.
The Mini Ratna Pawan Hans is a 51-41 percent joint venture between the government and ONGC . The Centre is looking to divest its entire holding.
Potential bidders have also raised concerns about the arbitration cases pending against the company and the Rs 50 crore dues it has to receive from Air India.