Rediff India Abroad
 Rediff India Abroad Home  |  All the sections


The Web

India Abroad

Sign up today!

Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article

Home > Business > Business Headline > Report

Jet Airways files draft IPO papers with Sebi

January 07, 2005 12:05 IST

Jet Airways (India) Limited, the largest private sector domestic airline in India, has filed its draft Red Herring Prospectus with the Securities and Exchanges Board of India to enter the capital market with its initial public offering.

Jet Airways will offer 17,266,801 equity shares of Rs10 each for cash at a price to be discovered through the book-building process.

Of the total offer, the company is making a fresh issue of 14,245,111 equity shares and the balance 3,021,690 equity shares are an offer for sale by Tail Winds Limited, one of the promoters of Jet Airways.

The offer, being made through a 100 per cent book-built process, would constitute 20 per cent of the fully diluted paid up equity capital of the company.

Jet Airways has reserved 1,200,000 equity shares for subscription by employees at the offer price. Thus the net offer to public would be 16,066,801 equity shares.

At least 60 per cent of the net offer shall be offered on a discretionary basis to qualified institutional buyers (QIBs), up to 15 per cent has been reserved for allotment on a proportionate basis to the non-institutional bidders and up to 25 per cent for retail investors.

The lead book running managers for the issue are Deutsche Equities India Private Limited, HSBC Securities and Capital Markets (India) Pvt. Ltd., UBS Securities India Pvt. Ltd., Citigroup Global Markets India Pvt. Ltd., DSP Merrill Lynch Ltd. and Kotak Mahindra Capital Company Limited.

Share your comments


Copyright 2006 India Limited. All Rights Reserved.