Govt seeks new bids for Pawan Hans

India Business Journal - - NEWS ROUND-UP -

The gov­ern­ment will soon in­vite fresh bids for a 100 per cent stake sale in Pawan Hans by is­su­ing an ad­den­dum to the dis­in­vest­ment doc­u­ment as ONGC is ready to sell its en­tire stake in the com­pany. Pawan Hans is a joint ven­ture be­tween the gov­ern­ment, which holds 51 per cent stake, and ONGC, which owns the re­main­ing 49 per cent share­hold­ing. On

April 13, the gov­ern­ment had is­sued the in­for­ma­tion me­moran­dum for the 51 per cent strate­gic stake sale in Pawan Hans. Af­ter ONGC too de­cided to sell its stake, the gov­ern­ment de­cided to seek fresh bids.

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