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The government has stated that many bidders have submitted their bids to buy stakes in national carrier Air India. A spokesperson of Tata Sons told a news agency that the company has also submitted its bid for the national carrier.
DIPAM Secretary Tuhin Kanta Pandey also tweeted, “Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to conclude stage.”
Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage. pic.twitter.com/0NxCJxX5Q1
— Secretary, DIPAM (@SecyDIPAM) September 15, 2021
The government aims to sell its 100% share in Air India. This means that it also plans to disinvest its 100% shareholding in AI Express Ltd and 50% in Air India SATS Airport Services Private Ltd.
The government had begun the sale of its stake in Air India in January 2020. However, due to the outbreak of Covid-19, the process has got delayed. The government asked potential bidders to submit their financial bids for the national carrier in April 2021.