Air India: US based fund in talks with banks, others to join the bid

The InvIT structure will help the fund to encourage institutional investors to participate in Air India's growth story once its privatisation is over

With the Tatas unsure about making a bid for Air India, US-based fund Interups Inc is giving final touches to its own, which includes forming an infrastructure investment trust (InvIT) to house the revenue-generating infrastructure of the airline.

The InvIT will help the fund to encourage institutional investors to participate in Air India’s growth story once its privatisation is over.

The airline’s core operations will not be part of the InvIT structure.

“The Tatas are unsure about making the bid, especially because they have to raise $20 billion to buy out the Mistry family’s 18.37 per cent stake in Tata Sons. Besides, its