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.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
