Jet Airways sale: SBI Caps rules out Darwin as potential investor
SBI Capital Markets, the appointed consultant for Jet Airways sale, is unlikely to consider the Darwin Group’s proposal to invest in the airline. The group, which claimed it was ready to invest `14,000 crore, did not meet minimum standards of due diligence done by SBI Caps, an official with knowledge of the matter said.
A State Bank of India-led consortium of lenders had in April initiated the sale process of the airline. Among the shortlisted bidders, no takers emerged for a majority stake in the airline by May 10, when the bidding process ended. Etihad Airways offered only to invest in a minority stake up to 24.9% in Jet Airways, subject to multiple conditions.
