Business News
Home > Business News
Government seeks bids for Pawan Hans by Aug 22
TIWN
TIWN
PHOTO : TIWN
New Delhi, Aug 15 (TIWN) The government has initiated the second step for disinvestment of Pawan Hans Limited (PHL), inviting expression of interest from the prospective bidders to sell its stake in the helicopter PSU.
The Centre is planning to exit Pawan Hans by selling its 51% stake along with the transfer of management control. The Expression of Interest (EOI) window is open till August 22. Both the shareholders of PHL -- the government and the ONGC will indemnify the contingent liabilities to the extent of over ₹500 crore for the potential buyers. The renewed process had in fact gathered momentum with issuance of PIM (preliminary information memorandum) on July 11, 2019.
Add your Comment
Comments (0)
More Business News
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals