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Interups says it has Rs 13,500 cr ready for Air India, can invest billions

US based firm has $28 mn market cap, has already bid for several bankrupt firms in India such as Lavasa Corp, Asian Colour Coated Steel and Reliance Naval

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Interups Chairman Laxmi Prasad says they bid for Air India in "national and government" interest, which will also protect employees' interest.

Dev Chatterjee Mumbai
US-based fund Interups says it has Rs 13,500 crore as available capital for investment in Air India and is ready to invest "billions of dollars" in the Indian aviation sector. 

The US OTC-listed firm has a market capitalisaton of only $28 million and has already bid for several bankrupt companies in India including Lavasa Corporation, Asian Colour Coated Steel and Reliance Naval. It has not won a single company yet and lenders say they want to see how Interups will arrange for funds for its acquisitions in India before taking any call on its bids.

For the Air India bid,

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First Published: Dec 15 2020 | 3:57 PM IST

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