Date:01/10/2005 URL: http://www.thehindubusinessline.com/2005/10/01/stories/2005100102820900.htm

Back DSP Merrill Lynch is advisor for Air India's IPO

Our Bureau

New Delhi , Sept. 30

AIR INDIA has selected DSP Merrill Lynch Ltd as the advisor for its proposed initial public offering (IPO).

In a statement, the airline said the terms of reference of the advisor will include preparing a roadmap for the airline's proposed IPO for submission to the Ministry of Civil Aviation and advising on capital restructuring and various options including the type of issue, timing, size of the offer, valuation methodologies, ESOPs and other corporate governance requirements. Air India, at present, has a share capital of Rs 153.84 crore fully subscribed by the Central Government while its authorised capital is Rs 500 crore. The airline at present has a turnover of $1.77 billion (Rs 7,795.08 crore).