Jet Airways India Ltd allots shares to Etihad

The Board of Directors of Jet Airways (India) Ltd at its Meeting held on November 20, 2013 approved the issue and allotment of 27,263,372 Equity Shares of the face value of INR 10 each at a price of INR 754.7361607 per share (including a premium of INR 744.7361607 per share of the Company to Etihad on a preferential basis in terms of the Investment Agreement entered between Etihad and the Company on April 24, 2013 and amendments thereto and pursuant to the approval of the Shareholders on May 24, 2013 by way of special resolution for an aggregate amount of INR 20,576,652,711.02 (Twenty Billion Five Hundred and Seventy Six Million Six Hundred and Fifty Two Thousand Seven Hundred and Eleven Rupees and Two Paise) and in accordance with the applicable law, regulations and approvals.

Consequent to the above allotment, the paid up share capital of the Company stands increased to INR 1,13,59,73,830 divided into 11,35,97,383 Equity Shares of INR 10 each. Following the issue and allotment of the said Equity Shares to Etihad; it shall hold 24% of the post issue paid up share capital of the Company.

Shares of Jet Airways (India) Ltd was last trading in BSE at Rs.306.40, down by Rs.12.50 or 3.92%. The stock hit an intraday high of Rs.317.90 and low of Rs.305.10.

The total traded quantity was 3.59 lakhs as compared to 2 week average of 11.52 lakhs.

Source : Equity Bulls

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