Indian carrier Jet Airways said on Sunday it plans to raise capital through the sale of shares to institutions within the next 2-3 months.
“We are planning a domestic issuance of shares through the QIP (qualified institutional placement) route in 2-3 months to deleverage our balance sheet, increase working capital and also strengthen our balance sheet,” K G Vishwanath, vice president, commercial strategy and investor relations, told reporters.
Vishwanath said the company has not yet finalised the amount to be raised through the share sale. Advisors to the issue have not been appointed so far, he said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app