Jet Enterprises has agreed to transfer and assign all trademarks and other IPRs owned by it to the private airline for a sum not exceeding rupee equivalent of $7.5 million, Jet Airways said.
Such a consideration ($7.5 million) has been mutually agreed to be based on the valuation by chartered accountancy firm Chaturvedi and Shah and the payment will be made after the completion of transfer and assigment process, it said.
On January 31, 2005 Jet Enterprises and Goyal-promoted airline had decided to complete the entire transfer process by July 31, 2005, it added.
While filing the draft red herring prospectus for its IPO, the airline had flagged the non-ownership of "Jet Airways" mark as risk factor.
Jet Airways executive director Saroj Dutta said brand and trademarks would be transferred to Jet Airways by Jet Enterprises.
The IPO, for which the road shows are currently underway in the US and Europe, consists of 1.72 crore shares of Rs 10 each to raise up to Rs 1,942.50 crore (Rs 19.42 billion) from the capital markets through the 100 per cent book built route.
The bidding for the IPO with a price band of Rs 950 to 1,125 would open on February 18 and close on February 24.
