Air India employees have a reason to cheer.
The government plans to make them shareholders in the new Air India carved by merging Indian and Air India.
According to sources 5% of the IPO that will hit the markets in a year or more will go to employees as esops. The offer price has been pegged at Rs 10 per share.
Merchant banking sources say that the Government of India is likely to raise between Rs 2,400 crore and Rs3,800 crore through the proposed public issue of Air India.
This figure is based on the assumption that the government will offer 20-25 percent of the airline's stock.
14/09/07 CNN-IBN
Monday, September 17, 2007