Two unsolicited bids received for Jet Airways, one binding bid expected by day-end: SBI chief Kumar

MUMBAI: The State Bank of India (SBI) has received two unsolicited bids for cash strapped Jet Airways (India) Ltd., while another bid is expected before the end of the day, the bank’s chairman Rajnish Kumar said on Friday.

Kumar, who didn’t elaborate the names of the bidders, added that a binding bid is expected from one of the four interested parties that had earlier submitted their expressions of interest (EoIs) for bidding for a stake in Jet Airways.

Etihad Airways PJSC, India’s National Investment and Infrastructure Fund (NIIF) and private equity firms TPG Capital and Indigo Partners had in April submitted their expressions of interest (EoIs) for bidding for a stake in Jet Airways.