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PHOTO FILE: A Jet Airways plane is parked while another is traveling on the runway at Chhatrapati Shivaji International Airport in Mumbai, India on February 14, 2018. REUTERS / Danish Siddiqui / File Photo
NEW DELHI (Reuters) – The State Bank of India (SBI.NS) (SBI), a syndicate of lenders expects Indian capital markets regulator to comment on Etihad Airways bailout bid for financially stressed Jet Airways (JET.NSSBI President Rajnish Kumar said Saturday, the Business Standard reported.
United Arab Emirates-based carrier, Jet's largest shareholder, wants an exemption from preferential pricing from the Securities and Exchange Board of India (SEBI) and open offer guidelines to increase its stake in the short-haul carrier money.
"We can not refuse the person's resolution plan. We say that there is a regulation governed by SEBI. What we need to see, is what SEBI says, "Kumar told the newspaper.
Etihad, which owns 24 percent of the capital of the second-largest Indian airline, has proposed investing only 150 rupees per share, or 53 percent of Jet's closing price of 281.35 rupees on Friday.
Written by Neha Dasgupta; Edited by Muralikumar Anantharaman
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