New Delhi: The civil aviation ministry has started the process of divesting its stake in helicopter operator Pawan Hans by the end of 2015-16 through an initial public offering, for which it has hired SBI Caps as an advisor. The New Delhi-based company, which operates a fleet of 46 choppers, is the largest helicopter operator not just in India, but also in Asia
"Representatives of SBI Caps made a presentation to us last week. They have listed out things that we need to do in terms of our financial accounts and various other aspects before filing for the listing. While we would like to complete the listing process as early as possible, we are looking at a listing before the end of next fiscal," said a senior civil aviation ministry official, who did not wish to be identified.
The move is in line with the draft civil aviation policy floated by the civil aviation ministry that has proposed divestment in state-run companies, including Airports Authority of India (AAI) and Pawan Hans
While the draft policy is being discussed and the final policy is likely to be out by next month, no stakeholder seems to have opposed divestment in these companies. Both Pawan Hans and AAI are profit-making companies.
10/02/15 Mihir Mishra/Economic Times
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"Representatives of SBI Caps made a presentation to us last week. They have listed out things that we need to do in terms of our financial accounts and various other aspects before filing for the listing. While we would like to complete the listing process as early as possible, we are looking at a listing before the end of next fiscal," said a senior civil aviation ministry official, who did not wish to be identified.
The move is in line with the draft civil aviation policy floated by the civil aviation ministry that has proposed divestment in state-run companies, including Airports Authority of India (AAI) and Pawan Hans
While the draft policy is being discussed and the final policy is likely to be out by next month, no stakeholder seems to have opposed divestment in these companies. Both Pawan Hans and AAI are profit-making companies.
10/02/15 Mihir Mishra/Economic Times
