Mumbai: Lenders of Jet Airways have invited initial bids to buy as much as 75 per cent of the cash-strapped airline. The potential bidder should have a net worth of at least Rs 1,000 crore ($144 million) in the preceding financial year, or at least three years of experience in the airline business. Bids should be submitted by April 10.
As per the invitation of bids made on Monday by State Bank of India, strategic investors could be non-resident Indians, foreign nationals or persons of Indian origin.
The document inviting bids has set Rs 2,000 crore as the minimum asset under management in the case of financial investors or even those with Rs 1,000 crore available for investment in the previous fiscal could bid.