After a failed attempt last year, the government is all set to launch a second bid to sell the debt-ridden national carrier Air India. Sources in the government say roadshows could begin as early as next week and an expression of interest is likely in a couple of weeks. Government plans to kick-start the roadshows from Mumbai and is also planning overseas roadshows including one in London to gauge the feedback from investors.

In July, the government reconstituted the panel tasked with the divestment of Air India. A group of ministers called the Air India Specific Alternative Mechanism, headed by home minister Amit Shah, comprising three other ministers was set up. The earlier panel had five members. The other ministers in the panel are finance minister Nirmala Sitharaman, commerce, and railway minister Piyush Goyal and civil aviation minister Hardeep Singh Puri. The union cabinet gave its green signal to initiate the sale process last week.

A special purpose vehicle of Air India, AIAHL has mopped up a total of Rs 21,985 crore by way of bond issues since September 16 and the proceeds would be utilised to repay the debt of the national carrier.

The civil aviation ministry on Wednesday said the third bond issue of AIAHL was fully subscribed. The issue of 10-year tenure bonds worth Rs 1,000 crore with a greenshoe option of Rs 7,064 crore received bids to the tune of Rs 15,100 crore.

These bonds have been subscribed at a rate of 7.39 percent.

"The company received bids worth Rs 15,100 cr. The company has decided to accept the issue of Rs 7,985 crore," the ministry said in a tweet.

AIAHL had raised Rs 7,000 crore each on September 16 and October 10, respectively.

The government is preparing to divest its stake in loss-making Air India and the final contours are expected to be finalised in the coming days. The airline has a debt burden of more than Rs 54,000 crore.