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Govt invites EoI for majority stake sale in Pawan Hans

Pawan Hans Ltd's net profit rose nearly six-fold to Rs 248 crore in FY17, from Rs 36 crore in FY16

By: ENS Economic Bureau | New Delhi |
October 14, 2017 2:31:59 am
Pawan Hans, Pawan Hans Ltd, PHL, Pawan, Business News, Latest Business News, Indian Express, Indian Express News Pawan Hans Ltd’s net profit rose nearly six-fold to Rs 248 crore in FY17, from Rs 36 crore in FY16

Accelerating the process of PSU privatisation, the Centre on Friday invited expression of interest for its entire 51 per cent stake in the profit-making helicopter service provider Pawan Hans Ltd (PHL). The stake sale could fetch the government about Rs 500 crore, analysts said.

Interested bidders would have to submit EoI by December 8. On December 29, candidates would be shortlisted for putting in financial bids. ONGC holds the remaining 49 per cent stake in the firm. PHL’s net profit rose nearly six-fold to Rs 248 crore in FY17, from Rs 36 crore in FY16.

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