Tata Group’s Air India weighs raising Rs 8,136 crore for expansion

Air India Ltd is considering raising at least Rs 8,136 crore ($1 billion) in a funding round that could value the carrier at around Rs 40,683 crore ($5 billion), according to people familiar with the matter.

The carrier, controlled by India’s oldest conglomerate Tata Group, is in discussions with potential investors including private equity funds and sovereign wealth funds, said the people. Air India is working with financial advisers on the fundraising, which could be completed in the next few months, the people said, who asked not to be identified as the information is private