After a wait of almost 67 years, the Tata Group has finally won the bid to take back the reins of state-owned Air India. The conglomerate, which outbid consortia led by SpiceJet founder Ajay Singh, emerged as the front-runner after outbidding other contenders on the reserve price fixed by a panel of government secretaries. The loss-making airline will be finally sold to one of India's biggest business houses with deep financial power, after several attempts in the last two decades.

"Talace Pvt Ltd and Tata Sons group have emerged as the final winner with EV quote of Rs 18,000 crore," Secretary, DIPAM, said at a press briefing in New Delhi.

After a wait of almost 67 years, the Tata Group has finally won the bid to take back the reins of state-owned Air India. The conglomerate, which outbid consortia led by SpiceJet founder Ajay Singh, emerged as the front-runner after outbidding other contenders on the reserve price fixed by a panel of government secretaries. The loss-making airline will be finally sold to one of India's biggest business houses with deep financial power, after several attempts in the last two decades.

"Talace Pvt Ltd and Tata Sons group have emerged as the final winner with EV quote of Rs 18,000 crore," Secretary, DIPAM, said at a press briefing in New Delhi.