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Naresh Goyal acquires 37% stake in Jet Airways for Rs 1,670 cr

By Religare
Naresh Goyal acquires 37% stake in Jet for Rs 1,670 cr
Naresh Goyal, chairman of Jet Airways picked up nearly 37 per cent stake in the company from Tail Winds for about Rs 1,670 crore and took his direct stake in the private carrier to about 66 per cent.

Earlier last week, Goyal had purchased 29 per cent stake from Tail Winds for about Rs 1,434 crore.

After the completion of Jet-Etihad deal, Jet has proposed to have 51 per cent stake with Goyal, 24 per cent with Etihad and remaining 25 per cent with the public.

An OFS for sale of shares to public investors undertaken by the company yesterday could get only 69 per cent subscription.

According to information available with the stock exchanges, Goyal purchased 3.18 crore shares, amounting to 36.85 per cent stake, of Jet Airways in his personal capacity.

The shares were bought on an average price of Rs 525 valuing the transaction to Rs 1,670.3 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
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