Sebi cloud on Etihad open offer waiver for Jet Airways shareholders

Sebi stance comes at a time when the stakeholders concerned along with the lenders have informally sought the regulator's views on the possibility of a waiver

The Securities and Exchange Board of India (Sebi) has expressed  reservations over granting exemption to Etihad Airways in connection with an open offer to the minority shareholders of Jet Airways, sources in the know said. Exemption for making an open offer was among the key conditions set by Etihad to offer a lifeline to the debt-laden domestic carrier.

“During an informal discussion with lenders and other stakeholders, the regulator has said that such an exemption is against Sebi’s takeover norms and