Talace Private Limited: Know about Tata Sons' subsidiary which has bought Air India

Talace Private Limited, a subsidiary of Tata Sons, won the bid for acquiring India's national carrier, Air India. The news was confirmed by the Aviation Ministry and DIPAM Secretary at a cabinet briefing on Friday. Tata Sons re-acquired Air India after 65 years with a winning bid of ₹ 18,000 crores.

Seven bids were made in total, but only two met the criteria; one from Tata Sons and the other from Ajay Singh, the promoter of SpiceJet. After Tata Sons wins the bid, they will also require to take on Rs 15,300 crore of Air India's debt. After Tata Sons successfully won the bid via their subsidiary, here is a look at more information on Talace Private Limited.

About Talace Private Limited 

Talace Private Limited is a private limited company that was incorporated on 12 August 2020. The company is registered at the Registrar of Companies in Mumbai and has an authorised share capital of Rs. 502,500,000 according to reports. It also reportedly has a paid-up capital, summing up to Rs. 252,000,000. Directors of Talace Private Limited are Eruch Noshir Kapadia, Saurabh Mahesh Agrawal and Nipun Aggarwal.

'Welcome back Air India': Ratan Tata reacts to the news

Former Tata Sons chairman Ratan Tata took to Twitter to react to the news that the Tata Group won the bid to acquire Air India. Ratan Tata wrote,

"The Tata Group winning the bid for Air India is great news! While admittedly it will take considerable effort to rebuild Air India, it will hopefully provide a very strong market opportunity to the Tata Group's presence in the aviation industry.

On an emotional note, Air India, under the leadership of Mr J.R.D. Tata had, at one time, gained the reputation of being one of the most prestigious airlines in the world. Tatas will have the opportunity of regaining the image and reputation it enjoyed in earlier years.  J.R.D. Tata would have been overjoyed if he was in our midst today.

We also need to recognize and thank the government for its recent policy of opening select industries to the private sector.

Welcome back,  Air India!"

Image: PTI