Jet gets board nod to issue 27.26 million shares to Etihad
Moneylife Digital Team 24 April 2013

The 27.26 million equity shares allotted to Etihad represents nearly 32% of the Jet’s share capital

Jet Airways on Wednesday said its board of directors has approved issue of over 27.26 million equity shares to Etihad Airways at Rs754.73 a piece.

The number of shares allotted to Etihad represents nearly 32% of the Jet's share capital.

In a filing with the stock exchanges, Jet said its board of directors at a meeting today approved preferential allotment of “27,263,372 equity shares of the face value of Rs10 to Etihad Airways PJSC at a price of not less than Rs754.7361607 (including premium of Rs744.7361607 per share) per equity share”.

The preferential allotment is subject to various conditions precedent including regulatory approvals.

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