Jet Airways resolution: Shares to remain listed, new owners propose FPO

The new owners of Jet Airways have proposed to keep the airline listed and plans to bring a follow-on-public offer (FPO) for restoring minimum public shareholding, as per resolution plan mentioned in the written order of NCLT.

The Murari Lal Jalan and Kalrock Capital consortium has proposed to issue 1 equity share for every 100 shares held by existing public shareholders of Jet Airways. Further, the equity shares held by the former promoters, Etihad, financial institutions and all the preference shares held by the former promoters and Etihad shall stand fully extinguished. However, a fixed sum of Rs 10,000 will be paid to the existing shareholders of the airline other than public shareholders.