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This is an archive article published on May 23, 2005

A-I to invite EoI for IPO advisor

After exhausting options of disinvestments and equity infusion by the Centre, Air India is to set the ball rolling for its initial public of...

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After exhausting options of disinvestments and equity infusion by the Centre, Air India is to set the ball rolling for its initial public offering (IPO) by inviting expression of interest (EoI) for appointing an advisor for the IPO.

The Air India board had cleared proposal for IPO last week and the public announcement is expected to be made later this week seeking EoI for appointing an advisor.

An advisor is expected to provide a roadmap to the state-owned airline on its run up to the launch for the IPO slated for this fiscal, merchant banking sources said here on Sunday.

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The last date for receipt of applications for submitting EoIs is likely to be the third week of June, sources added.

Air India has a share capital of Rs 153.84 crore, which is fully subscribed by the central government, while its authorised capital is Rs 500 crore. It has a turn over exceeding $1.5 billion (about Rs 6,500 crore) and an asset base of over Rs 7,000 crore.

The airline had recently announced a massive fleet acquisition programme for purchase of 50 Boeing jets at an approximate cost of Rs 30,000 beginning this fiscal till 2012-13. —PTI

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