BENGALURU: Jet Airways Ltd plans to raise about $840 million from a government fund and a rights issue, Business Television India said, a day after the company’s board approved a deal for some lenders to infuse funds and restructure debt.
National Investment and Infrastructure Fund will funnel ₹1,500 crore ($210 million) into the debt-laden carrier for a 20% stake and Jet may propose to raise ₹4,500 crore via a rights issue priced at ₹125-150 per share, Business Television India reported, citing sources.
Jet said on Thursday its board had approved a rescue deal that will make its lenders its largest shareholders and fix a near ₹8,500 crore ($1.2 billion) funding gap.
