The Deadline For Bidding For Air India Will Remain Sep 15

The deadline for bidding for Air India will remain September 15, the government clarified.

September 15 will be the deadline for investors to bid to buy state-run airline Air India. an officer gave this information on Wednesday.

So far, the deadline for initial bids has been extended five times. Salt-to-software conglomerate Tata Group was among “many” entities that had made initial bids to buy loss-making Air India in December last year.

After analyzing the initial bids, the qualified bidders were given access to Air India’s Virtual Data Room (VDR) to develop a proper understanding, followed by answering queries from investors.

After that in April, the government started the process of inviting financial bids and fixed September 15 as the deadline for bidding.

The government will decide on the reserve price after the bids are received by September 15, the official said. The deal is expected to be completed by the end of December.

In July, Minister of State for Civil Aviation VK Singh told Parliament that financial bids for the airline would be taken up by September 15.

The rise in the price of gold and silver continues, precious metals being sold at this rate today

Gold and silver both precious metals saw a rise on Wednesday. Gold prices on Wednesday rose by Rs 132 to Rs 47,071 per 10 grams in the local futures market as speculators created fresh positions on firming spot demand.

On the Multi Commodity Exchange, gold for delivery in October rose by Rs 132, or 0.28 percent, to Rs 47,071 per 10 grams. It had a business turnover of 10,328 lots.

Market analysts said buying of fresh positions by participants led to the rise in gold futures prices. Globally, gold prices rose 0.08 percent to $1,799.90 an ounce in New York.

Silver prices on Wednesday rose by Rs 132 to Rs 64,753 per kg in futures trade as participants widened their positions on firm spot demand.

At the Multi Commodity Exchange, silver futures for delivery in December rose by Rs 132, or 0.2 percent, to Rs 64,753 per kg. The futures contract was traded for 8,649 lots.

Market analysts said fresh positions by participants due to a firm trend in the domestic market mainly led to the rise in silver prices at futures trade. Globally, silver traded 0.19 percent higher at USD 24.42 an ounce in New York.