American fund InterApps will give physical bids for Air India today, its founder Laxmi Prasad has said. December 29 is the last date for giving physical bids for the purchase of a government airline company. The three bidders giving expression of interest to the company include one inter-application.
Bidar is also a consortium of 219 employees of Air India
Air India's bidders also include a consortium of 219 employees led by Tata Sons and Air India commercial director Meenakshi Malik. Malik has said that the employee's consortium has already given physical bids for the purchase of the company.
Airline bidders will be shortlisted on 5 January
The government will shortlist the bidders on 5 January after receiving all the bids for the airline. In the next round, bidders will be allowed to do due diligence, allowing them to access more data and information of the company.
Inter-offer of giving majority stake to employees
InterApps has offered to form a consortium with the employees of Air India and give them majority 51% stake. The Malik-led Employees Consortium also has a financial investor whose identity has not yet been revealed. Air India pilots and crew members have kept distance from the bid. They want to pay their outstanding salaries first.
Permission to bid on the enterprise value of Air India
The government has changed its several clauses to attract more buyers in the second attempt to sell Air India. It has said, "Bidders interested in purchasing Air India have been asked to bid on its enterprise value." The winner of the bid will have to pay only 15% of the enterprise value in cash and the loan can be taken for the rest.
Get watch our process Click here ideal stock investment, daliy call profit, Market News, Fill Our ask an Expert form-
For Ask An Expert Advice Give A Missed Call On - 0731-4994956
