Air India stake sale to get stretched to FY21
NEW DELHI : Privatisation of Air India and stake sale in its subsidiaries for which bids have been invited, is set to spill over to FY21 with the government giving more time to investors for clearing doubts on the terms of sale.
The ministry of civil aviation has extended the due date for investors to seek clarifications on the terms of sale up to midnight of 6 March, from the earlier deadline of 11 February, as per a change notified by the ministry on the information document given to investors. “This invariably means that the process of disinvestment will get stretched to FY21 as investors will need to be given at least 15 days to make their submissions (expressions of interest) after their queries are clarified,” a person familiar with the development said on condition of anonymity. Qualified bidders will then make financial bids.
