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Air India to float its IPO in the market; bags award

CNN-IBN
Sep 14, 2007 at 05:03pm IST

New Delhi: 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

EXPANSION SPREE: The Air India IPO will hit the malrets within a year or so.

Air India Bags Montreal Award

India's biggest airline Air India has bagged the Montreal Protocol Public Awareness Award for its efforts in protection of the ozone layer.

The award would be presented by the United Nations Environmental Programme (UNEP) and Air India Chairman V Thulasidas would fly to Montreal to receive the award on September 16, an Air India release said here today.

Air India has undertaken awareness campaigns for issues related to ozone layer and environment protection. These include conservation of energy, forests and other natural resources through its inflight magazines and videos, it said. The airliner also organised discussions on climate change.

The airliner plans to launch Air Lines Forum in India for collective action to protect the environment, the release added.

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