NEW DELHI: Even as the much-needed funding remains elusive for Jet Airways, merchant banker SBI Caps has started the process for sale of the financially troubled carrier for lenders.
The SBI Caps’ legal team is working on the expressions of interest (EoIs) received from investors and bidders will be selected soon.
“The proposed equity conversion by banks, if any, will be undertaken as a transitory mechanism to facilitate the bidding-cum-sale process,” the State Bank of India (SBI) said in a statement on Monday.
