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Jet Airways to sell shares to institutions

Press Trust Of India 

Indian carrier 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.

First Published: Mon, September 14 2009. 00:36 IST