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Jet Airways to raise capital through shares sale

Jet Airways to raise capital through shares sale
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First Published: Sun, Sep 13 2009. 03 14 PM IST
Updated: Sun, Sep 13 2009. 03 14 PM IST
Mumbai: Indian carrier Jet Airways said on Sunday it plans to raise capital through the sale of shares to institutions within the next 2-3 months.
“We are planning a domestic issuance of shares through the QIP (qualified institutional placement) route in 2-3 months to deleverage our balance sheet, increase working capital and also strengthen our balance sheet,” K.G. Vishwanath, vice president, commercial strategy and investor relations, told reporters.
Vishwanath said the company has not yet finalised the amount to be raised through the share sale. Advisors to the issue have not been appointed so far, he said.
Shares in Jet ended 1.6% up at Rs257.4 on Friday in a Mumbai market that closed 0.3% higher.
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First Published: Sun, Sep 13 2009. 03 14 PM IST
More Topics: Jet Airways | QIP | Shares | Equities | Capital |