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Rediff.com  » Business » Jet stock surges 4% on buzz Sebi may take up open offer issue

Jet stock surges 4% on buzz Sebi may take up open offer issue

December 06, 2013 13:31 IST

A Jet Airways airhostessShares of Jet Airways on Friday rose by almost 4 per cent amid reports that market regulator Sebi may again take up the open offer issue in the company's deal with Abu Dhabi-based airline Etihad.

Jet Airways stock jumped 3.9 per cent to Rs 312.40 on the BSE.

Similar was the trend at the NSE, where the scrip rose by 3.93 per cent to Rs 313.

According to media reports, Securities and Exchange Board of India is debating whether to reopen the issue of an open offer for shareholders of Jet Airways after another regulator said that Etihad enjoys joint control over the Indian airline.

Fair trade regulator CCI had, last month, approved the acquisition of 24 per cent stake in the Naresh Goyal-led Indian carrier by Abu Dhabi-based airline.

Jet and Etihad had last month announced the closure of a Rs 2,069-crore (Rs 20.69-billion) deal for the Abu Dhabi-based carrier to pick up 24 per cent equity in the Indian airline, marking the first FDI infusion by an airline in the Indian aviation sector.

Image: A Jet Airways hostess; Photograph, courtesy: Jet Airways

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