Tata Group Wins Bid For Acquiring Air India: Govt

Tata Sons have reportedly won the bid for acquiring the national carrier Air India, informed Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM), on Friday.

While Tata quoted a winning bid of Rs 18,000 crore, the consortium led by SpiceJet founder Ajay Singh had quoted a financial bid of Rs 15,100 crore, the DIPAM secretary said.

"Talace Private Limited, the SPV of Tata Sons, is the winning bidder for Air India, at a bid value of Rs 18,000 crore," he said

Pandey further said that the non-core assets including land and buildings with a book value of Rs 14,718 crore will not be given to the acquirer but will be transferred to GoI's Air India Assets Holding Limited (AIAHL).

The process for the sale of Air India, which is reportedly reeling under a debt of over Rs 60,000 crore, had begun in July 2017.  The debt-laden national carrier has as many as 127 aircrafts.