Air India disinvestment: extension of notice to successful bidders till January 5
The government will now notify successful bidders (QIBs) showing interest in Air India on 5 January 2021 instead of 29 December 2020. However, the government has not extended the deadline to express interest on behalf of various bidders to bid for the national carrier. Investors interested in acquiring Air India will have to physically submit bids within 15 days after 14 December.
14 December is the last date to express interest
December 14 is the last date to express interest. The Government’s Department of Investment and Public Asset Management (Deepam) has issued the 10th Corrigendum to the global investors to express their interest. In this, it has amended Article 10.17 in the document expressing its interest. The Corrigendum states, “After the changes made in Article 10.17 of the Primary Information Memorandum (PIM), the date of intimation to the successful bidder interested should be extended till five January 2021”.
Government is selling entire 100% stake
The government started the disinvestment process of Air India in January this year. The government has invited bids to sell its 100 per cent stake in the national airline. Along with this, 100% stake of Air India will also be sold in Air India Express Limited. A 50 per cent stake in Air India SATS Airpart Services Pvt Ltd will be sold.
60,074 crore debt on the company
In the document that Deepam has expressed interest for Air India, the total debt on Air India as on 31 March 2019 has been stated to be Rs 60,074 crore. Of this, its buyer will have to bear Rs 23,286.5 crore while the rest of the loan will be transferred to Air India Asset Holdings Limited, created for the purpose.
