SME Times News Bureau | 08 Mar, 2021
Only the Tata Group and private airline Spicejet remain
in the fray for buying Air India as all the other bids have been
rejected, according to sources close to the development.
The bids have been rejected after the evaluation of the expressions of interest (EoI) where multiple bids were received.
The
transaction advisors have been in touch with the interested bidders
regarding several queries and the qualified bidders will be intimated
only after the government is satisfied with the responses from the
bidders.
Apart from Tata Sons and Spicejet, Tata Sons and the
New York-based Interups Inc backed by strategic NRI investors from the
US and Europe are said to be the interested bidders for the national
carrier.
DIPAM Secretary Tuhin Kanta Pandey had earlier said that
the government has received multiple expressions of interest for the
strategic disinvestment of Air India.
The process has been
divided into two stages. In stage one, expressions of interest have been
submitted by the interested bidders and they will be shortlisted based
on the eligibility criteria and other terms mentioned in the Preliminary
Information Memorandum (PIM).
In stage two, the shortlisted
interested bidders will be provided with a request for proposal (RFP)
and thereafter there will be a transparent bidding process.
A
group of 209 employees of Air India had also put in a bid. Essar and
Pavan Ruia of Dunlop and Falcon Tyres had also put in bids for Air
India.
