Tatas, SpiceJet's Ajay Singh submit financial bids to acquire Air India

The Tata group has confirmed that it has put in its bid. Ajay Singh has participated in the bid

The Tata group and SpiceJet promoter Ajay Singh have submitted financial bids for acquiring Air India as the disinvestment process of the debt ridden national carrier entered its final stage. This comes three years after a failed attempt by the government to sell Air India.

“We have received financial bids in sealed covers. The bids will be opened after the reserve price is fixed independently and security clearance of bidders is obtained,” said Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM). The government hopes to conclude the disinvestment of Air India by the end of the year.

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