The government of India has extended the deadline for Air India till 30 June 2020 to submit bid. The Department of Investment and Public Asset Management (DIPAM) noted the deadline was being extended after request received from the interested bidders in view of the prevailing situation arising out of COVID-19.
The government extended the bidding deadline for Air India for the second time due to the pandemic.
A sixth corrigendum to global invitation for expression of interest (EoI) for proposed strategic disinvestment of Air India by way of the transfer of management control and sale of 100 percent equity share capital of Air India held by the government of India, which will include Air India’s shareholding interest of 100 percent in Air India Express and 50 percent in Air India SATS Airport Services.
The process of selling the government’s full stake in the national carrier initially began on 27 January 2020.
The date for intimation to qualified interested bidders (QIB) has also been extended by till 14 July 2020.
For FY21, the budget has pegged disinvestment proceeds at Rs 2.10 lakh crore. This includes Rs 1.20 lakh crore from CPSE share sale and Rs 90,000 crore from share sale in public sector banks and financial institutions, including listing of the insurance company, the Life Insurance Corporation of India (LIC).