As per the information memorandum, issued in March, the government would retain 24 per cent stake in the national carrier, the winning bidder would be required to stay invested in the airline for at least three years.
In its first case of mergers and acquisition,the Competition Commission of India has cleared Mukesh Ambani-led RILs buyout of Bharti groups 74 per cent stake in an insurance joint venture with AXA of France.
New Delhi, Feb 24 (ANI): India's sale of a five percent stake in top power producer NTPC Ltd. received bids for 80 percent more shares than were on offer for institutional investors on Tuesday, setting the government on course to raise about $730 million. Retail investors, for whom a fifth of the NTPC issue is reserved, can place bids on Wednesday, after which the final price and total proceeds will be ascertained. Unsubscribed shares from the retail portion will be allocated to the funds.