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

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