Naresh Goyal buys 29% stake in Jet Airways for Rs 1,434 cr

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Naresh Goyal buys 29% stake in Jet Airways for Rs 1,434 cr
Naresh Goyal, Chairman of Jet Airways, has collected over 29 per cent stake in the private carrier from another promoter entity for about Rs 1,434 crore.

According to the reports, Goyal purchased 2.51 crore shares, amounting to 29.13 per cent stake, of Jet Airways in his personal capacity. The shares were purchased from Tail Winds Ltd, a company incorporated in the Isle of Mann and wholly owned by Goyal.

The shares were bought on an average price of Rs 570 valuing the transaction to Rs 1,433.46 crore.

At the end of March quarter, Tail Winds held 6.90 crore shares or 79.99 per cent stake in Jet Airways, while Goyal owned 9,995 scrips, amounting to 0.01 per cent holding, in the company in his personal capacity.

Read more about: jet airways india
Story first published: Friday, May 24, 2013, 9:30 [IST]
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