Govt and Tata Sons sign share purchase agreement worth Rs 18k cr

29 Oct 2021 CW Team

On Monday, the government signed a share purchase agreement with Tata Sons for Rs 18,000 crore for the sale of Air India.

Earlier, the government had accepted the offer by Talace Private Limited to pay Rs 2,700 crore in cash and take over Rs 15,300 crore of the airline's debt.

On 11 October, the government issued a Letter of Intent (LoI) to the Tata Group, confirming the government's willingness to sell its 100% stake in the airlines.

The Secretary of the Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey, tweeted that the sale-purchase agreement was signed between the government and Tata Sons for strategic disinvestment of Air India.

The deal included the sale of Air India Express and the ground handling arm of Air India SATS Airport Services Private Limited (AISATS). Tata Group has surpassed the offer of Rs 15,100 crore by SpiceJet promoter Ajay Singh, and the reserve price of Rs 12,906 crore set the government of India for the sale of a 100% stake in the carrier.

It will be the first airport privatisation since 2003-04. Air India will be the third airline under Tata, which has an interest in AirAsia India and Vistara, a joint venture (JV) with Singapore Airlines Limited.

Image Source

Also read: Air India returns to Tata Sons

Building Material

14 Jan 2026

Industry Bodies Call for Wider Use of Cement Co-Processing

Leading industry organisations have called for stronger policy support to accelerate the adoption of cement industry co-processing as a sustainable solution for managing non-recyclable and non-reusable waste. In a joint statement, bodies including the Global Cement and Concrete Association, European Composites Industry Association, International Solid Waste Association – Africa, Mission Possible Partnership and the Global Waste-to-Energy Research and Technology Council highlighted the role co-processing can play in addressing the growing global waste challenge.Co-processing enables the use o..

German Chancellor Friedrich Merz Visits Bosch India Campus

Friedrich Merz, Federal Chancellor of the Federal Republic of Germany, visited the Bosch campus at Adugodi, Bengaluru, as part of his official India trip, underscoring the strong and long-standing partnership between India and Germany. The delegation was hosted by Guruprasad Mudlapur, President of the Bosch Group in India and Managing Director, Bosch Limited, at the company’s Indian headquarters.During the visit, the Chancellor was briefed on key innovations developed by Bosch India, reflecting the country’s growing role as a global hub for technology and engineering. “We feel honoured t..

Odisha To Get Six New Amrit Bharat Express Trains

Indian Railways is set to significantly expand the footprint of the Amrit Bharat Express in Odisha with the introduction of six new services that will pass through several major stations across the state. With this addition, the total number of Amrit Bharat Express trains operating through Odisha will rise to seven. At present, Odisha is served by a single Amrit Bharat Express on the Berhampur–Udhna (Surat) route. The East Coast Railway said the newly introduced non-air-conditioned sleeper trains are designed to improve passenger comfort through modern LHB coaches, enhanced seating layouts ..