Pawan Hans Divestment: Third Extension In Three Months
Representational image of a helicopter. (Photographer: Prashanth Vishwanathan/Bloomberg) 

Pawan Hans Divestment: Third Extension In Three Months

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The government has for the third time as many as months pushed the deadline for submission of expressions of interest for Pawan Hans to Oct. 10.

The earlier deadline for submitting the EoIs expired on Thursday. The government is planning to exit the chopper maker.

According to a notice on the website of the aviation ministry, the deadline for strategic disinvestment of Pawan Hans has been now extended to Oct. 10.

This is the third time that the date is being extended since the government came out with the preliminary information memorandum for selling its entire 51 percent stake in the chopper company was issued in July. Oil and gas company Oil & Natural Gas Corporation Ltd. holds the remaining 49 percent.

The divestment bid comes after ONGC did not show any interest in taking the full ownership of the company last fiscal. Pawan Hans primarily serves ONGC's offshore operations with a fleet of 43 choppers.

The government had on July 11 issued fresh bid document for strategic disinvestment in the company with Aug. 22 as the last date of submission for EoIs.

However, it extended the date to Sept. 12 after no bids were submitted, and timeline for all other subsequent activities were also changed accordingly.

This deadline was extended again by two weeks to Sept. 26.

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