Tata Sons’ Talace Receives an Overwhelming Response to Its Bid for Rs 23,000 Crore Loan
Talace Private Limited is a wholly-owned subsidiary of Tata Sons that has won the bid for acquiring India's national carrier Air India. Government is yet to complete the transaction of handing over Air India and its subsidiaries to Talace.
Highlights:
- Talace's bid of Rs 23,000 crores includes Rs 18,000 crore for the airline's debt and Rs 5,000 crore for initial operating costs.
- The response to the bid is overwhelming, considering that the loan is unrated and unsecured.
- Tatas will most likely convey to the banks about the allocation in the first week of January 2022.
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