- PM Modi visit USAOnly the mirror in my washroom and phone gallery see the crazy me : Sara KhanKarnataka rain fury: Photos of flooded streets, uprooted treesCannes 2022: Deepika Padukone stuns at the French Riviera in Sabyasachi outfitRanbir Kapoor And Alia Bhatt's Wedding Pics - Sealed With A KissOscars 2022: Every Academy Award WinnerShane Warne (1969-2022): Australian cricket legend's life in picturesPhotos: What Russia's invasion of Ukraine looks like on the groundLata Mangeshkar (1929-2022): A pictorial tribute to the 'Nightingale of India'PM Modi unveils 216-feet tall Statue of Equality in Hyderabad (PHOTOS)
Gaurav Bidhuri, 2017 World Boxing Championship bronze medallist, joined hands with the Del
- U23 World Wrestling Championship: Chirag Chikkara wins gold as India end campaign with nine medals
- FIFA president Infantino confirms at least 9 African teams for the 2026 World Cup
- Hockey, cricket, wrestling, badminton, squash axed from 2026 CWG in Glasgow
- FIFA : Over 100 female footballers urge FIFA to reconsider partnership with Saudi oil giant
- Ecuador ready to make history against Uruguay: Beccacece
PE, VC funds with adequate net worth, capability can bid for AI: Official Last Updated : 20 Apr 2018 12:22:14 AM IST Air India. (File Photo: IANS)
Private equity (PE) and venture capital (VC) funds with adequate net worth and capability can bid for Air India (AI) through its strategic divestment programme, a senior government official said on Thursday.
According to Department of Investment and Public Asset Management (DIPAM) Secretary Neeraj Gupta, the Central government was "not looking only for an airline to takeover Air India".
"We have given a small carve out for airlines on how domestic airlines will be treated in terms of eligibility in a consortium but otherwise anybody who has net worth and funds can bid for Air India," Gupta said at industry body Assocham's 'Annual India Investment Conference'."In all these disinvestment exercises also, we have kept them technically neutral, finance is the main criteria and your capability to takeover and run such an asset in financial terms is the main criteria."
Gupta also said that the government had "received lot of queries from airlines and non-airlines" for proposed divestment of the national carrier.
"... If you see the expression of interest being invited in these cases, the only criteria is net worth," he said.
The Central government has invited "Expression of Interest" to off-load 76 per cent stake and management control of the airline.
On March 28, the government issued the Preliminary Information Memorandum (PIM) for a strategic divestment of Air India, along with the airline's shares in AIXL (Air India Express) and AISATS (Air India SATS Airport Services).
The Central Government owns 100 per cent equity of Air India. In turn, the airline has a cent per cent stake in Air India Express, while it holds 50 per cent stake in the joint venture AISATS.
Accordingly, it has been planned to divest 76 per cent government stake in Air India, 100 per cent in AIXL and 50 per cent in AISATS.IANS For Latest Updates Please-
Join us on
Follow us on
172.31.16.186