Indian Government to divest stake in Pawan Hans

Indian Government to divest stake in Pawan Hans

11-Feb-2015 Source: HeliHub.com

Pawan Hans will see an ownership change by the end of 2016, as the Indian Government announces plans to divest its 51% stake in the operator. With a fleet of 46 helicopters, Pawan Hans is one of the largest operators in Asia. Investment bank SBI Capital Markets has been appointed to advise the government on an IPO (Initial Public Offering) to launch shares on the Bombay Stock Exchange. SBI made a presentation last week to list the tasks needed before the listing can occur. The move is in line with the draft civil aviation policy floated by the civil aviation ministry, which has proposed divestment in both Pawan Hans and Airports Authority of India. No mention has been made of the 49% stake owned by the Oil & Natural Gas Corporation (ONGC), a separate Government enterprise from the civil aviation ministry.

Pawan Hans results in recent years have been:-

  • 2013-4 Rs 38.6 crore ($6.2M) Profit on turnover of Rs 530 crore ($85.2M)
  • 2012-3 Rs 11.7 crore ($1.9M) Profit
  • 2011-2 Rs 10.4 crore ($1.7M) Loss
  • 2010-1 Rs 18.5 crore ($3.0M) Profit

Local analysts expect that the flotation will be well subscribed given the company profitability and has an assured revenue stream. Over 45% of Pawans Hans’ revenues come from ONGC.  The company also operates a number of onshore scheduled services as well as operating VVIP helicopters for Indian state governments.

John Burcote – HeliHub.com

as365-pawan-hans6-2x

, , , , ,

Copyright © 2024 HeliHub

Website by Design Inc

Helihub logo

X