Ratan Tata: JRD would have been overjoyed

October 08, 2021 16:47

Ratan Tata, Chairman Emeritus, Tata Sons. Chairman, Tata Trusts, tweets this image alongside with a short, emotional note on the return of Air India to the Tata hangar. "Welcome back, Air India (plane emoji, house emoji)," Tata wrote.

Read the note alongside.

Tatas have won the bid to acquire debt-laden state-run Air India offering Rs 18,000 crore for acquiring 100 per cent shareholding, a senior government official said on Friday.

An SPV of Tata Sons - the holding company of conglomerate - has emerged as successful bidder, Tuhin Kanta Pandey, secretary to the Department of Investment and Public Asset Management (DIPAM) -- the government department responsible for privatisation - said.

Tata Sons beat SpiceJet promoter to bag Air India.

The DIPAM secretary said Tatas' bid of Rs 18,000 crore comprises taking over of 15,300 crore of debt and paying the rest in cash.

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