New Delhi: Due to the disqualification of the selected bidder, the government decided on Monday to cancel the strategic disinvestment of Pawan Hans, marking the third failed attempt to privatise the helicopter service provider.
Pawan Hans is owned by the government to the tune of 51%, with ONGC, another government-owned oil company, holding the remaining 49%. To sell Pawan Hans and ONGC's share, the government issued an EoI (expression of interest) request in December 2020.