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Pawan Hans Divestment: Third Extension In Three Months

The earlier deadline for submitting the EoIs expired Thursday. The government has been planning to exit the chopper services provider RPT services provider for some time now.

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The government has for the third time as many as months pushed the deadline for submission of expressions of interest (EoIs) for Pawan Hans to October 10.
 
The earlier deadline for submitting the EoIs expired Thursday. The government has been planning to exit the chopper services provider RPT services provider for some time now.

According to a notice on the website of the aviation ministry, the deadline for strategic disinvestment of Pawan Hans has been now extended to October 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 behemoth ONGCNSE -4.60 % 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 11 July issued fresh bid document for strategic disinvestment in the company with August 22 as the last date of submission for EoIs 

However, it extended the date to September 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 September 26. 

(PTI)


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