Tata Group has emerged as the highest bidder

Tata Group has emerged as the highest bidder to acquire national carrier Air India, the Economic Times reported today

Tata Group's bid for the national carrier was about 30 bln rupees higher than the reserve price set by the government and 50 bln rupees more than that by Ajay Singh, the promoter of SpiceJet, the report said.

The reserve price for the airline is estimated to be between 150 bln rupees and 200 bln rupees, the report said.

The committee of ministers, headed by Home Minister Amit Shah, is likely to meet soon to consider the bids for the troubled airline, the report said.

The government had in January 2020 sought expressions of interest to sell its 100% stake in the national carrier along with 100% stake in Air India Express and 50% in Air India SATS Airport Services.

The last date for submitting financial bids for the airline was on Sep 15.

Reports said only Tata Group and Ajay Singh had bid for the troubled airline

Source : Eureka