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Updated on: Friday, October 08, 2021, 05:34 PM IST

'Maharaja heads back home': Netizens cheer as Tata Sons wins bid to Air India

The Centre on Friday declared Tata Sons' subsidiary Talace as the highest bidder for national carrier Air India under the divestment process.
Air India | Unsplash

Air India | Unsplash

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Life has come a full circle for the Tatas with the government declaring the corporate conglomerate the winning bidder to take over national carrier Air India.

The airline the group once started and nurtured into becoming the face of India globally has come back to its original owners now after 68 years.

The Centre on Friday declared Tata Sons' subsidiary Talace as the highest bidder for national carrier Air India under the divestment process.

The Tatas' subsidiary quoted Rs 18,000 crore of enterprise value for Air India, Divestment Secretary Tuhin Kanta Pandey announced.

There were only two bidders in the final stage of divestment.

Besides, the Tatas' subsidiary, the second bidding entity was a consortium led by industrialist Ajay Singh.

Notably, conglomerate Tata Sons was touted to be the front-runner to get hold of the carrier.

The total debt of the airline, as of August 31, stands at Rs 61,562 crore while a Tatas subsidiary quoted Rs 18,000 crore enterprise value for it.

The news has cheered people across India who were looking forward to Tatas winning the bid.

Here's how people are reacting. Have a look.

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(By agencies)

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Published on: Friday, October 08, 2021, 04:20 PM IST
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