Latest News | Tata Sons Among Multiple Bidders in Race to Buy Air India

New Delhi, Dec 14 (PTI) Salt-to-software conglomerate Tata Group was among "multiple" entities that on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.

"Multiple expressions of interest have been received for strategic disinvestment of Air India. The Transaction will now move to the second stage," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted.

Also Read | Budget 2021: CII Recommends 3-Pronged Strategy for Budget.

He, however, did not reveal either the identity of the bidders or the number of bids received for buying the national carrier.

Sources said Tata Sons, the holding company of the Tata Group, has put in an Expression of Interest (EoI) at the close of the deadline on Monday.

Also Read | Infinix Smart HD 2021 Smartphone Prices Revealed on Flipkart; India Launch Scheduled For December 16, 2020.

It was not, however, immediately clear if Tatas have bid alone or in consortium with an airline.

An official said transaction advisor will inform bidders before January 6, if their bids have been qualified.

Qualified bidders will then be asked to submit financial bids.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)