Air India/ representational image
Interups, a US-based fund on Tuesday said it has Rs 13,500 crore as available capital for investment in Air India. The company is all set to invest billions of dollars in the Indian aviation sector, as reported by a Business Standard today.
With a market capitalisaton of only $28 million, the US OTC-listed firm has already bid for several bankrupt companies in India including Lavasa Corporation, Asian Colour Coated Steel and Reliance Naval.
It has not won a single company yet and lenders say they want to see how Interups will arrange for funds for its acquisitions in India before taking any call on its bids.