Tata Sons wins Air India bid at Rs 18,000 crore
Tata Group emerges as winning bidder for Air India, the government announced today.
Tata’s quoted a winning bid of Rs 18,000 crore, says Tuhin Kant Pandey, Secretary, DIPAM. The consortium led by SpiceJet founder Ajay Singh quoted a financial bid of Rs 15,100 crore.
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Multi-layered decision making has been adopted for the disinvestment process, comprising Air India Specific Alternate Mechanism chaired by Union home minister.
Financial bids put in by the Tata Group and SpiceJet promoter Ajay Singh were opened a few days back and were vetted by the core group of secretaries on disinvestment headed by the cabinet secretary earlier this month. The bids were evaluated against the reserve price set and Tatas emerged as the highest bidder. The transaction is expected to close by the end of December 2021.
