According to a banking source, the government-owned insurer sold its holding of ₹3,800 crore back to the airline after AI offered to pre-pay debt worth ₹12,900 crore to investors.
LIC, which had invested 3,000 crore, exited at a premium and will not invest in the airline in future as it will now be owned by a private limited company, said a source close to the development.
This story is from the January 27, 2022 edition of Business Standard.
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This story is from the January 27, 2022 edition of Business Standard.
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