Tata Group Formally Joins Race For Air India
Tata Group filed an Expression of Interest for Air India to the Disinvestment Ministry on Monday and will now be expected to submit its financial bid within the next 15 days. This is just an expression of interest and not a financial bid and it has been submitted as the deadline ends today, Tatas told NDTV. An expression of interest indicates a buyer's interest in acquiring a company. The deadline for filing expression of interest ends at 5 pm. It is still not known whether Tatas plan to acquire Air India with their existing partners, i.e. Air Asia or Vistara, or go solo.
The shortlisted bidder will be expected to pick up Rs 23,286 crores of the Rs 60,000 crore total debt of the airline. The remaining debt will be transferred by the government into a special purpose vehicle called Air India Assets Holding.
The disinvestment of Air India will be based on its enterprise value, i.e. calculation of its market capitalisation, short-term and long-term debt and any cash on its balance sheet.
Meanwhile, the Department of Investment and Public Asset Management has said that multiple expressions of interest have been received for strategic disinvestment of Air India and the transaction will now move to the second stage.
Multiple expressions of interest have been received for strategic disinvestment of Air India. The Transaction will now move to the second stage. pic.twitter.com/YJ0fQLK5Hl
December 14, 2020The government had failed to sell a majority stake in Air India in 2018 due to absence of any suitors.
Tatas' association with Indian aviation goes back a long time. Tata Sons established Tata Airlines in the year 1932 and that was renamed as Air India in 1946. The Tatas exited Air India exactly 67 years ago, in 1953, and the government took control.
Tatas started two airlines in 2013, viz. Air Asia in partnership with Malaysia's Air Asia and Vistara along with Singapore Airlines.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
