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Last Updated : Apr 16, 2013 11:53 AM IST | Source: CNBC-TV18

Jet Airways to dilute stake via OFS route: Sources

As the Jet-Etihad is getting delayed due to issues related to bilateral treaty, promoters of the former are keen to fast track offer for sale plan (OFS) to dilute stake, exclusive sources told CNBC-TV18.


As the Jet-Etihad is getting delayed due to issues related to bilateral treaty, promoters of the former are keen to fast track offer for sale plan (OFS) to dilute stake, exclusive sources told CNBC-TV18.


Through OFS route, the company will offer shares at a fixed price directly to pubic in May, add sources in the know. Read This:  Jet-Etihad Airways deal may be delayed until August


Jet Airways' chairman Naresh Goyal needs to bring down promoter holdings to 75 percent as per Sebi guidelines. Goyal holds closes to 80 percent in Jet through Tail Winds.


Around four investment bankers are currently working on the OFS issue which is likely to hit the market in May. The pricing of the same could be at a premium to the current price and is roughly valued at around Rs 260 crore.

It is also learnt that promoters may dilute around 6-8 percent via OFS issue.



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First Published on Apr 15, 2013 02:00 pm
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