Himalayan News Service

Mumbai, July 23:

India’s state-run domestic carrier Indian Airlines today invited bids for advisor for the airline’s initial public offering (IPO) likely to hit the market next year to raise funds for expansion activities. The advisor would suggest Indian Airlines on the quantum, marketing, pricing, valuation, timing and extent of the offering, said an expression of interest note issued by the airlines. The company will also advise the carrier on all aspects in the run up to the IPO. The last date for submitting proposals is August 13. The government proposes to offload 10-15 per cent of its equity in Indian Airlines as well as national flag carrier Air-India to make them more competitive in the fast-growing industry.