Kalrock-Jalan consortium proposes Rs 1,000 cr investment in Jet; equity to lenders
MUMBAI: A consortium of London based Kalrock Capital and UAE-businessman Murari Lal Jalan plans to infuse close to Rs 1,000 crore in the defunct Jet Airways NSE 4.98 % over the next five years and also willing to give a collateral, according to its proposed resolution plan, said people familiar with the plan.
“Kalrock’s plan is to infuse Rs 380 crore in phases in the first two years and another Rs 580 crore in years three to five,” said one person involved in finalising the resolution plan.
“They are also willing to give collateral of Rs 250 crore as security and have promised cash to lenders from year three onwards irrespective of what happens to the airline. Lenders are being offered 9.5% equity during the restructuring period,” he added.
