The Central government is planning to announce the winning bid for Air India by October 15.
The financial bid for the debt-ridden national carrier is likely to be opened tomorrow, reported CNBC citing sources.
Financial bids will be evaluated against an undisclosed reserve price and the bid offering the highest price above that benchmark would be accepted. The bid will initially be examined by the transaction advisor before the recommendation is sent to the Cabinet for approval.
According to the report, 85% of the bid price will be for Air India’s debt, and 15% will be in cash.
