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ONGC raises stake to 49% in Pawan Hans

28 Dec 2010 Evaluate

ONGC has upped its stake in Pawan Hans Helicopters Ltd (PHHL) to 49 per cent from the earlier 21 per cent. The move will see the equity base of PHHL being enhanced to Rs 245 crore from the existing Rs 113 crore. ONGC has provided Rs 95 crore for enhancing its equity.

NTPC has also agreed to give Rs 55 crore as loan to PHHL for buying new helicopters. The company had earlier indicated that it would generate Rs 150 crore out of its internal resources for fleet expansion.crackcrack

Peers
Company Name CMP
ONGC 225.50
Oil India 444.40
Jindal Drilling&Inds 585.60
Deep Industries 745.85
Asian Energy Service 458.45
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