Jet Airways to raise US$ 800 Million

Jet Airways India Ltd has announced that the Board of Directors, at their meeting held on June 26, 2007, had decided and approved a Rights Offering of an amount of US$ 400 million and had also constituted a Committee of the Board to decide on all matters pertaining to the further issue of Share Capital including pricing, basis etc.

Taking into consideration the current scenario, the Board at its Meeting held on January 28, 2008 has directed the Management to consider raising further capital [including Qualified Institutional Placement (QIP) or by any other mode], for an overall amount of upto US $ 800 million which will include the current approval of US $ 400 million by way of Rights Offering, subject to the approval of the Shareholders and any other authority, as may be applicable.

The stock closed the day at Rs.748.05, up by Rs.5.05 or 0.68%. The stock hit an intraday high of Rs.760 and low of Rs.650.

The total traded quantity was 355905 compared to 2 week average of 53217.

Source : Equity Bulls

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