Jet Airways share sale via OFS under-subscribed
Jet Airways offer to sell over 43.17 lakh shares via offer for sale (OFS) route was subscribed a little over 69 per cent on Thursday, enabling the carrier to raise over Rs 222 crore.
The issue received 29,86,022 bids, as against 43,17,697 shares on offer, the NSE data showed.
Jet Airways-promoter Tail Winds had set the floor price at Rs 510 a share for 5 per cent stake-sale through the offer for sale (OFS) route which was aimed at reducing promoters' stake to meet guidelines of 25 per cent public float by the Securities and Exchange Board of India (Sebi).
Shares of the company, on Thursday, settled 1.22 per cent lower at Rs 528.55 on the BSE.
As part of the OFS and Etihad deal, last week Mr Goyal had bought back around 28 per cent holding from the promoter company Tail Wind, which is fully-owned by him. Also he picked up another 37 per cent stake in the company from another promoter entity for about Rs 1,670 crore on Thursday, taking his direct stake in the private carrier to about 66 per cent.
Jet Airways has reported a higher net loss of Rs 495.53 crore for the fourth quarter ended March 31 compared to loss of Rs 298.12 crore in the same period year-ago.
