Govt receives bids for Pawan Hans stake sale

New Delhi: Bids have been received for the strategic stake sale in helicopter services provider Pawan Hans, Civil Aviation Secretary R N Choubey said today.

A profit-making entity, Pawan Hans is a joint venture between the central government and state-owned ONGC.

Under the disinvestment proposal, the government offered to offload its entire 51 percent stake in the company.

Bids have been received for Pawan Hans stake sale, Choubey said here.

The last date for submission of initial bids was June 18.

After a tepid response earlier, the government came out with a fresh information memorandum for the strategic stake sale in April.