New Delhi, Praful Patel, the newly appointed Civil Aviation Minister on Monday, Jun 1 said that an initial public offering of shares in Air India could be considered in the near future.
"An IPO could be considered in the near future," Praful Patel told reporters,
The minister added that it would depend on the state of the equity markets. However, Patel did not give out any information on time and said, "This is one area of intent... IPO will bring in much-needed liquidity infusion and also accountability."
The revenue form the IPO will reportedly be put into activities like expanding the fleet of the state-owned airline.
This just adds to the list of reforms the Congress-led government was able to roll into the country such as privatization and hiking of foreign investment caps, to lift the economy and attract investment.