Oil & Natural Gas Corporation Ltd.

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