"Pawan Hans" was incorporated on 15 October 1985 as the Helicopter Corporation of India (HCI), the country's national helicopter company with the objective of providing helicopter support services to the oil sector for its off-shore exploration operations, services in remote areas and charter services for promotion of tourism. It is a government-owned enterprise with 78.5% in government hands & 21.5% with ONGC. ONGC has upped its stake to 49% recently, a move that will see the equity base of PHL being enhanced to 245 crores from the existing 113 crores.