Tata Sons makes winning bid of Rs 18,000 cr for Air India: Govt

The bid got approved by a group of ministers headed by Home Minister Amit Shah on October 4, said DIPAM Secretary

Air India
Premium

Tata Sons' winning bid of Rs 18,000 cr for Air India higher than reserve price of Rs 12,906 cr set by government

BS Web TeamPTI
Salt-to-software conglomerate Tatas have won the bid to acquire debt-laden state-run Air India offering Rs 18,000 crore for acquiring 100 per cent shareholding, a senior government official said on Friday.

An SPV of Tata Sons - the holding company of conglomerate - has emerged as successful bidder, Tuhin Kanta Pandey, secretary to the Department of Investment and Public Asset Management (DIPAM) -- the government department responsible for privatisation - said.

Tata Sons beat SpiceJet promoter to bag Air India.

The DIPAM secretary said Tatas' bid of Rs 18,000 crore comprises taking over of 15,300 crore of debt and paying the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 08 2021 | 4:10 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com