Tata Sons' winning bid of Rs 18,000 cr for Air India higher than reserve price of Rs 12,906 cr set by government
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
First Published: Oct 08 2021 | 4:10 PM IST