Govt says not considering Air India stake sale

NEW DELHI: : The Government is not currently considering selling stakes in state-run carrier Air India and helicopter services provider Pawan Hans Helicopters, the civil aviation secretary said on Wednesday. In December, Civil Aviation Minister Praful Patel had said Air India planned to sell up to 15 per cent of its equity in an initial public offering to raise funds for expansion. But turmoil in local and international share markets has limited investor appetite for new issues, forcing at least 10 Indian firms to delay or shelve IPOs worth about $4 billion this year. The outlook remains downbeat for the rest of the year.”The ministry is not actively looking at it,” secretary Ashok Chawla told reporters on the sidelines of a conference.

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