Government Extends Deadline To Bid For Air India By Two Months Till June 30th

The department of investment and public asset management (DIPAM) has again extended the for Air India bids. This extension has been done after receiving requests from the interested bidders (IB’s) due to the prevailing coronavirus crisis.

The process of selling the government’s full stake in the national carrier had kickstarted in January ‘20. While issuing the EoI in January, the last date for bids was kept for March 17, which was later extended to April 30. This has now been further extended till June-end.

The date for intimation to qualified interested bidders (QIB) has also been extended by two months till July 14.

For the current fiscal, the budget has pegged disinvestment proceeds at Rs 2.10 lakh crore. This includes Rs 1.20 lakh crore from Central public sector enterprises (CPSE’s) share sale and Rs 90,000 crore from share sale in Public sector banks and financial institutions, including listing of insurance LIC.