Air-India plans IPO 18-24 mths after merger with Indian

International air carrier Air-India plans an initial public offer, IPO 18-24 months after its merger with state-owned domestic carrier Indian Airlines, V Thulasidas, chairman and managing director, Air-India, said today, reports CRISIL MarketWire.
Given that the government is targeting to complete the merger of the two airlines by early 2007-08 (Apr-Mar), Air-India IPO should hit the market by the first quarter of fiscal 2010.
"We are aiming at the IPO within 18-24 months after the merger (with Indian Airlines) is completed," Thulasidas told reporters on the sidelines of EU-India aviation summit. He said the merged entity is expected to offload 15-20% of its stake through the proposed initial public offer.
Thulasidas said a formal decision on the merger is awaiting Cabinet approval. The issue is likely to be taken up on Monday by the Empowered Group of Ministers following which it will be sent to Cabinet for final approval, he said.
24/11/06 Moneycontrol.com

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