Date:24/05/2005 URL: http://www.thehindu.com/2005/05/24/stories/2005052405451800.htm

Business - Briefly

Air India invites EoIs

NEW DELHI: Air India on Monday invited bids from merchant bankers and financial advisors to appoint the advisor for initial public offering (IPO) of its stock sale. The bids will close on June 17.

The proceeds from IPO will be used to fund the airline's mega aircraft purchase programme. The AI board recently approved a plan to buy 50 Boeing jets for nearly seven billion dollars (about Rs. 30,000 crores).

— UNI