The government has received three financial bids for its stake in ailing helicopter operator Pawan Hans and is likely to complete its divestment in a couple of months, Moneycontrol reported.
The privatisation of Pawan Hans is likely to fetch Rs 300-350 crore, it quoted officials as saying.
This is the government’s fifth attempt to privatise the company.
Pawan Hans has a fleet of over 40 helicopters and almost 900 employees, including 450 who are on the permanent rolls.
“We are working with the transaction advisor and are in the final stages of completing the divestment process of Pawan Hans and will look to complete the process in the next couple of months,” the report quoted a senior government official.
