When was the last time you saw a PSU bank aggressively asserting that in two months’ time, the whole thing will be turned around and a new buyer will start moving on, said Mayur Milak, Research Analyst, IndiaNivesh Securities, in an interview with ETNOW.
Edited excerpts:
The lenders to Jet Airways have decided to ask for an expression of interest for the stake sale on April 6, giving investors three days to respond. What kind of investor interest can one expect?
It is too short a window unless you really have somebody as a known bidder because if I have to compare, I can look at Air India. They had a long window and that was not successful. Here, just a three-day window is being given and there is still no idea of what is happening on the funding side. I doubt that there is anything concrete here. Way too many things kept changing. I am not even sure if this is a positive move at this point or not.
Lenders have kept only a three-day window to seek the expression of interest from potential bidders, out of which two are weekend days. Could it mean that they already have at least one interested party? Are Tatas the likely one because of the preference for Indian control or could a foreign carrier like Qatar or Emirates along with the PE player have an extra edge?
That has become pretty obvious because when was the last time you saw a PSU bank aggressively asserting that in two months’ time, the whole thing will be turned around and a new buyer will start moving on? The obvious thought is some arrangements must already be there. But it is too early to really predict whether it could be the Tatas or a foreign airline. The best option, at this point looks like Tata Vistara but I would still want to wait and watch.
05/04/19 Economic Times
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Edited excerpts:
The lenders to Jet Airways have decided to ask for an expression of interest for the stake sale on April 6, giving investors three days to respond. What kind of investor interest can one expect?
It is too short a window unless you really have somebody as a known bidder because if I have to compare, I can look at Air India. They had a long window and that was not successful. Here, just a three-day window is being given and there is still no idea of what is happening on the funding side. I doubt that there is anything concrete here. Way too many things kept changing. I am not even sure if this is a positive move at this point or not.
Lenders have kept only a three-day window to seek the expression of interest from potential bidders, out of which two are weekend days. Could it mean that they already have at least one interested party? Are Tatas the likely one because of the preference for Indian control or could a foreign carrier like Qatar or Emirates along with the PE player have an extra edge?
That has become pretty obvious because when was the last time you saw a PSU bank aggressively asserting that in two months’ time, the whole thing will be turned around and a new buyer will start moving on? The obvious thought is some arrangements must already be there. But it is too early to really predict whether it could be the Tatas or a foreign airline. The best option, at this point looks like Tata Vistara but I would still want to wait and watch.
05/04/19 Economic Times
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