Air India Disinvestment: Tata Group, SpiceJet promoter Ajay Singh submit financial bids

New Delhi: The Multinational conglomerate Tata Group and SpiceJet's promoter Ajay Singh shows interest in the Air India Limited Disinvestment process. Wednesday on the last day of bidding Tata Sons and Spicejet have submitted financial bids for acquiring Air India. 

Secretary, DIPAM tweets, "Financial bids for Air India disinvestment received by Transaction Adviser. The process now moves to concluding stage." However, it was also mentioned that the bids were received in a sealed cover. The government is expecting the disinvestment of Air India limited to conclude this year.

Back in 1932, the airline was founded by J. R. D. Tata as Tata Airlines and now they are focusing on Air India to get it back. While they submitted their offer through a wholly-owned separate subsidiary company. The government last January invited EoI (expression of interest) to sell a 100 percent stake in Air India and Air India Express.