The board of directors of Tata Sons, the holding company of the Tata Group, on Tuesday discussed the acquisition of Air India and the fundraising plans for the Rs 18,000 crore acquisition.
The company will be raising around Rs 15,000 crore as debt from banks to fund Air India acquisition. The board also discussed the integration plan among the group’s airlines. The Tata Group owns 51% stake in Tata SIA Airlines and 83% stake in low-cost carrier, AirAsia India.
The shareholders had earlier cleared the company to raise upto Rs 40,000 crore for Air India acquisition, and roll out its TataNeu app.
Tata Sons did not make any official comment on the board meeting.
