The proposed $400 million rights issue of Naresh Goyal-promoted private airline Jet Airways will hit the capital market by mid-October.
Jet Airways, which recently acquired Air Sahara (now JetLite) for Rs 1,450 crore, is currently in the process of filing a prospectus with market regulator Securities and Exchange Board of India (Sebi).
Jet Airways has appointed HSBC and SSKI as merchant bankers to the rights issue, which will be used for acquisition of aircraft.
Goyal holds 80 per cent share in Jet Airways, while the remaining stake is with the public. Meanwhile, Jet Airways today launched its flight connecting India and the US, with daily flights from Mumbai to Newark via its hub in Brussels.
Read more in The Business Standard article.
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