New Delhi: State-owned Pawan Hans Helicopters is working on a plan to add 13 aircraft to its fleet, including two seaplanes that would cost the company over Rs 900 crore even as it prepares for an initial public offering (IPO).
"We have firmed up a plan to buy 11 helicopters and two seaplanes. The plan has been sent to the civil aviation ministry for approval," said a Pawan Hans executive, who did not wish to be identified.
"This will cost us about Rs 930 crore and we expect the government to lend about Rs 550 crore for the same," said the official. The state-owned helicopter operator has 45 helicopters in its fleet and the company will add 9 medium-sized and 2 heavy duty helicopters and two seaplanes. "Some of the helicopters will be replacements too," said the executive.
The government has plans to divest stake in Pawan Hans in FY16 and has hired SBI Caps as an adviser. The executive said these moves will go a long way in increasing the valuation of the company. "We would surely look at raising substantial sums of money through the IPO," added the executive.
28/10/15 Mihir Mishra/Economic Times
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"We have firmed up a plan to buy 11 helicopters and two seaplanes. The plan has been sent to the civil aviation ministry for approval," said a Pawan Hans executive, who did not wish to be identified.
"This will cost us about Rs 930 crore and we expect the government to lend about Rs 550 crore for the same," said the official. The state-owned helicopter operator has 45 helicopters in its fleet and the company will add 9 medium-sized and 2 heavy duty helicopters and two seaplanes. "Some of the helicopters will be replacements too," said the executive.
The government has plans to divest stake in Pawan Hans in FY16 and has hired SBI Caps as an adviser. The executive said these moves will go a long way in increasing the valuation of the company. "We would surely look at raising substantial sums of money through the IPO," added the executive.
28/10/15 Mihir Mishra/Economic Times
