Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article
Home > Business > PTI > Report

Sebi clears Jet IPO

February 03, 2005 21:23 IST

The Securities and Exchange Board of India has cleared the initial public offer of Jet Airways.

"We have forwarded our final observations to the airline and they have to come out with an IPO within three months," a Sebi official said in Mumbai on Thursday.

The Naresh Goyal-promoted airline is to offer 20 per cent of the fully-diluted equity capital through a multi-crore IPO.

The offer, through 100 per cent book building route, would be for 1.72 crore (17.2 million) shares of Rs 10 each comprising a fresh issue of 1.42 crore (14.2 million) shares and offer for sale of 30.21 lakh (3 million) shares or 4.2 per cent stake held by Isle of Mann registered Tail Winds Ltd, one of the promoting entities.

Sixty per cent of the issue would be offered to Qualified Institutional Buyers. Another 15 per cent would be available for allotment to non-institutional bidders (high networth individuals) and the remaining 25 per cent to retail individual investors.

The purpose of the IPO is to gain benefits of listing to enhance visibility and brand name, raise capital and retire certain outstanding debt of IFC and IDFC, it said.

The lead managers are Deutsche Equities India Pvt Ltd, HSBC Securities and Capital Markets (India) Pvt Ltd, UBS Securities India Pvt Ltd, Citigroup Global Markets India Pvt Ltd, DSP Merrill Lynch Ltd and Kotak Mahindra Capital Company Ltd.

7333: The Latest News on Your Mobile!

© Copyright 2005 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Share your comments

 What do you think about the story?

Read what others have to say:

Number of User Comments: 1

Sub: Is it worth buynig Jet @ 950-1125 Rs.

IS it worth buying Jet more than Rs. 1000/-. Any suggestions

Posted by Rahul



Copyright 2005 India Limited. All Rights Reserved.