The government today approved the proposal of Jet Airways for raising around Rs 1,850 crore from foreign investors.

The Cabinet Committee on Economic Affairs approved the Jet Airways' proposal, as recommended by Foreign Investment Promotion Board, to raise $400 million via equity investment through the qualified institutional placement route from foreign institutional investors, an official statement said.

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New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end flat - Turbulence ahead for airlines despite oil price drop - Weak rupee may bring cheer to NRIs, expats - LIC buys PSU stocks, sells pvt sector blue-chips in Q4 - Banks may lower deposit rates as inflation eases: Report

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