HYDERABAD: Lenders and prospective buyers of grounded Jet Airways Ltd are at a crossroads.
About 11.4 lakh fresh shares are up for grabs, but the road is unclear. Interested bidders want a cut-price deal, but banks are battling hard to protect the asset value in order to recover dues later, if not now.
“It’s a matter of deal structuring. We don’t know yet if we (banks) will acquire and transfer shares to the buyer. Obviously, whoever is bidding does not want to buy from the market, because then Sebi’s Substantial Acquisition norms will kick in. We don’t know yet about the vehicle through which shares will be transferred,” a banker said.