Govt extends bid deadline for Pawan Hans to February 18

The government has extended the preliminary bid submission deadline for buying Pawan Hans by a month till February 18.

The Department of Investment and Public Asset Management (DIPAM) had in December invited bids for strategic sale, along with transfer of management control, of helicopter service provider Pawan Hans. The date for bid submission was January 19.

The deadline has now been extended to February 18 in view of the "prevailing Covid19 situation and consequent logistical challenges faced by Interested Bidders," DIPAM said in a notice.

The government owns 51 per cent stake in Pawan Hans, while Oil and Natural Gas Corp (ONGC) holds the remaining 49 per cent. ONGC has decided to offer its entire shareholding in the company for sale along with the government stake.

Pawan Hans was incorporated in October 1985 to primarily provide helicopter services for the exploration activities of ONGC.