Jet Airways promoter, Mr Naresh Goyal, would offload five per cent of his equity in the airlines before the end of this month to a private equity player, a top company official said.
“Mr Goyal is targeting to dilute five per cent before the end of this month,” Jet Airways senior general manager Mr KG Vishwanath said.
“We are talking to five to six private equity players. They include both national and international players,” he said.
Mr Naresh Goyal holds 80 per cent in Jet through Tail Winds. According to Sebi guidelines, his stake needs to be bought down to 75 per cent.
Once the dilution of five per cent stake takes place, Jet would go ahead with its $400 million rights issue. (The Statesman)