The federal government has prolonged by two months the deadline for putting bids for Air India until October 30 because the COVID-19 fallout has disrupted financial exercise globally. The method of stake sale within the nationwide service was initiated on January 27. That is the fourth extension given by the federal government for placing in bids.
Issuing a corrigendum to the Expression of Curiosity (EoI) on the market of Air India, the Division of Funding and Public Asset Administration mentioned the deadline has been prolonged in view of the “request obtained from the IBs ( bidders) in view of the prevailing scenario arising out of COVID-19”.
Whereas issuing the EoI in January, the final date for bids was saved at March 17, which was later prolonged to April 30. This was additional prolonged until June 30, and once more until August 31.
Additionally the date for intimation to certified bidders (QIB) has been prolonged by over two months until November 20, the DIPAM mentioned within the corrigendum posted on its web site.