The government has extended by two months the deadline for placing bids for Air India till October 30 as the COVID-19 fallout has disrupted economic activity globally.
The process of stake sale in the national carrier was initiated on January 27. This is the fourth extension given by the government for putting in bids.
Issuing a corrigendum to the Expression of Interest (EoI) for sale of Air India, the Department of Investment and Public Asset Management said the deadline has been extended in view of the “request received from the IBs (interested bidders) in view of the prevailing situation arising out of COVID-19”.
While issuing the EoI in January, the last date for bids was kept at March 17, which was later extended to April 30. This was further extended till June 30, and again till August 31.
Also the date for intimation to qualified interested bidders (QIB) has been extended by over two months till November 20, the DIPAM said in the corrigendum posted on its website.
You might also like
More from Finance
The Indian rupee rose to its highest stage in practically six months on Friday, gaining for a 3rd straight session …
Retail investors’ frenzy over small stocks in India has reached such extremes that shares of some companies that aren’t booking …
Indian multinational conglomerate holding company Tata group is pushing into the country’s booming tech sector with a new “super app” that …